Friday, 23/06/2023 10:34 (GMT+7)
Seafood export turnover in May reached over USD809 million, the highest since the beginning of the year, showing that the market is presenting signs of getting better.
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| Seafood exports in May 2023 reach the highest level since the beginning of the year. (Photo: congthuong.vn) |
The Import-Export Department under the Ministry of Industry and Trade quoted statistics from the General Department of Customs saying that in May 2023, Vietnam's seafood exports reached USD809.46 million, down 23% compared to May 2022. In the first 5 months of 2023, Vietnam's seafood exports reached USD3.38 billion, down 27.9% from the same period in 2022.
Vietnam's seafood exports in May 2023 continued to decline due to the decrease in seafood consumption demand of major markets as the impact of inflation and high interest rates.
However, seafood exports in May 2023 had a better signal when the rate of export reduction to some major markets such as the United States, China, Japan, Australia and the Netherlands slowed down compared to the previous months.
In particular, the rate of reduction of Vietnam's seafood exports to the US market slowed down, bringing the US back to the position of the largest seafood export market of Vietnam in May 2023, with USD150.89 million, down 36.9% compared to May 2022.
The Vietnam Association of Seafood Exporters and Producers (VASEP) also said that in May 2023, seafood export turnover reached over USD809 million, the highest since the beginning of the year, showing that the market is gradually getting better.
Addressing the current difficulties and challenges, each seafood enterprise has its own solutions. In general, businesses have identified this as a period of time to review production costs, keep the number of employees and incomes for employees stable, and not expand investment. This is also the period when businesses spend time researching new products to suit the post-COVID-19 market context and high inflation./.
Compiled by BTA