Seafood exports in 2014 may reach nearly US$ 8 billion

Seafood exports in 2014 may reach nearly US$ 8 billion

(vasep.com.vn) Seafood export turnover in 2014 is likely increase by US$ 1.3 billion from last year’s result, to reach US$ 8 billion US dollars.
Update: (12/23/2014)

Seafood exports have been strong and stable from the beginning of the year, especially for shrimp, ,said Mr. Nguyen Hoai Nam, Deputy General Secretary of VASEP at a conference held last week in Can Tho.

"It is totally possible that export turnover reaches US$ 8 billion this year", Mr Nguyen Hoai Nam - Deputy General of VASEP said on the sidelines of the conference entitled "Trends in consumption of fishery products in the largest export market; fisheries in the future and social responsibility” organized by SGS in Can Tho city.

The first nine months of 2014 witnessed surges in seafood exports. In which, shrimp exports reached US$ 3 billion, up 42.3% year on year while pangasius export value was US$ 1.3 billion, up 0.2% year on year. Mollusk exports reached US$ 61 million, up 12.3% and octopus exports reached US$ 350 million, up 13.3% year on year.

Mr. Nam predicted that shrimp export value can reach approximately US$ 4 billion, pangasius exports at US$ 1.8 billion, tuna exports of over US$ 480 million, bivalve exports at US$ 80 million and other seafoods of about US$ 1.2 billion. Seafood exports therefore will account for 6-7% of total exports from Vietnam, listing the industry in the top 5 exporting industries with the highest turnover, after electronics, apparel, crude oil and footwear.

There are 165 countries and territories importing seafood from Vietnam. The US, EU, Japan, South Korea and the ASEAN countries are biggest importing markets.

Thailand, last year’s top seafood exporter has not overcome shrimp diseases and boycott due to the use of child labor in shrimp industry. The downturn of the biggest suppliers along with increase in market demand, stable domestic resources created fruitful results for Vietnam’s seafood industry this year.

from Vasep,