According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first 5 months of 2023, Vietnam seafood export value reached US$3.47 billion, down 25.9% over the same period last year. Exports to some traditional markets such as Europe, the US and China have shown signs of sharp decline, especially the demand for fresh seafood. In which, exports to the US decreased by more than 50%, China decreased by 37%.
Facing difficulties due to reduced orders in key markets, Vietnamese seafood enterprises are innovating products, promoting trade, and adjusting export markets.
With the current situation, restructuring the market, strengthening trade promotion with each sector and each market are effective solutions to expand the seafood consumption market. Along with promoting direct negotiations to diversify agricultural products that are officially exported to many markets, transactions through e-commerce platforms are being carried out by many businesses.