Vietnam’s marine products exports reached 2.8 billion USD in the first 8 months of 2022

In August 2022, Vietnam marine products exports reached 405 mil USD, increasing 80% compared to the same period 2021. In the first 8 months of the year, marine products exports reached 2.8 billion USD, an increase of 33%.

Currently, marine products exports account for 37% of the country’s total seafood export value. Marine products exports in August this year recorded a strong growth of 80% because at the same time last year, processing enterprises had to shut down or cut down their activities due to the impact of Covid-19 pandemic.

Vietnam’s marine products exports include the following product groups: other marine fish (accounting for 48%); tuna (accounting for 26%); squid, octopus (17%); crabs, crabs and other crustaceans (5%); bivalve molluscs (4%) and the remaining is other molluscs.

In the first 8 months of 2022, the export value of wild marine products increased except for other mollusks. Tuna exports recorded the strongest growth rate of 55% at USD 730 million..

Exports of crustacea and cephalopods increased by 37% and 36%, respectively. Exports of bivalve molluscs increased by 13%, exports of other marine fish increased by 23%. Only other mollusk exports decreased by 20%, but this product only accounts for a small proportion.

Processing and exporting wild marine products are concentrated in  Ho Chi Minh City, Khanh Hoa, Ba Ria – Vung Tau, Long An, Kien Giang.

Exports of other marine products in August this year grew well compared to the same period last year. The export value of crabs, squid, octopus and marine fish increased from 43% to 93%, only the export of bivalve molluscs decreased slightly by 2% over the same period last year.

The continuous war in Russia continues to negatively affect many economic sectors, including fishing. This causes the supply to decrease because of the high fishing costs. Thus, enterprises still face the shortage of supply.

Compiled by Thuy Linh

(Source: https://seafood.vasep.com.vn/)

https://seafood.vasep.com.vn/key-seafood-sectors/other-marine-products/news/vietnam-s-marine-products-exports-reached-2-8-billion-usd-in-the-first-8-months-of-2022-25504.html