Exports of marine products exceed USD 2 billion in the first six months

According to VASEP, Vietnam achieved over USD 2 billion from exporting marine products, up 26% and accounting for 35% of the total seafood export value of the country.

The total export value of Vietnamese marine products reached USD 377 million in June 2022, up 32% from the same period last year.

Vietnam’s exported marine products include other marine fish (accounting for 47.1% of the total export value of marine products), tuna (27.2%), cuttlefish and octopus (16.9%), crab and other crustacean (5.1%), bivalvia (3.6%), and other mollusks.

In the first six months of 2022, the country saw a positive growth in sales of wild-caught marine species, except for mollusks that fell by 29%. Tuna exports showed the most growth rate, up 55%. Exports of crab, sentinel crab, and other mollusks increased by 45%, exports of cuttlefish and octopus increased by 28%, exports of bivalvia rose by 21% and exports of sea fish rose by 12%.

Processing of marine species for export purposes are mainly conducted in Hồ Chí Minh city, Khánh Hòa, Bà Rịa – Vũng Tàu, Long An, and Kiên Giang.

In the first six months of the year, exports of other marine species remained a stable growth as compared to previous years.

HLSO Black Tiger shrimp Hung Hau

The ongoing tension between Russia and Ukraine continues to pose a threat on economics, seafood exploitation included, leaving a scarcity of material due to high costs. Businesses still have to face a short supply of material.

The main destinations of Vietnamese marine species are the US, Japan, Korea, China, and Thailand.

Hồ Chí Minh city saw the biggest export value of marine species, with USD 480 million worth, trailing Khánh Hòa, Bà Rịa – Vũng Tàu, Long An, and Kiên Giang.

(Source: https://vietfishmagazine.com/)