Seafood exports earn 3.6 billion USD

According to the Vietnam Association of Seafood Exporters and Producers, in May 2024, the country's seafood exports were estimated at 870 million USD, up over 7% over the same period last year. Of which, tuna and crab exports continued to grow strongly, while pangasius, squid, and octopus exports increased slightly. Shrimp exports were slightly lower than the same period last year. In the first 5 months of the year, seafood exports reached 3.6 billion USD, up 6.5% over the same period in 2023.

5 months: Seafood exports earn 3.6 billion USD

In May 2024, tuna exports increased by 36% to over 95 million USD, of which canned tuna products increased by 18%, bagged tuna products increased dramatically by more than 3.5 times, frozen loin/fillet tuna increased by 25% and frozen whole tuna increased nearly 7 times compared to May 2023. Accumulated to the end of May 2024, tuna exports reached nearly 397 million USD, an increase of 25% over the same period in 2023.

Crab exports in May increased by nearly 92% to over 26 million USD. In the first 5 months of the year, crab exports reached 101 million USD, up 84%, mainly due to crab products increasing more than twice compared to the same period. The two largest markets, China and Japan, both increased their crab imports from Vietnam.

Of which, China is the largest consumer market for live crabs in Vietnam, with an import increase of 11 times compared to the same period in 2023. For the Japanese market, Vietnam mainly exports finished snow crab products: snow crab meat, shelled snow crab, snow crab claws and a small part of ground field crab...

Pangasius exports increased by 10% and exports of squid, octopus and other fish species increased slightly by 3% in May. In the first 5 months of the year, pangasius exports brought in nearly 755 million USD, a slight increase of 3% compared to the same period last year. Meanwhile, marine fish exports decreased by 3% to 742 million USD, squid and octopus reached 236 million USD, down nearly 2% compared to the same period last year.

In May 2024, shrimp exports alone decreased by 1.5% to 326 million USD, but the cumulative growth rate in the first 5 months of the year still maintained a positive growth rate of 7% to 1.3 billion USD.

Although there has not been a strong breakthrough, in general, major markets have shown signs of gradual recovery in both demand and import prices. Accordingly, seafood exports to the US, Japan, EU, and South Korea all grew positively in May with an increase of 5-26%, while exports to China decreased by 8% compared to the same period.

As of the end of May, the US still led with a 13% growth rate of 635 million USD in seafood imports from Vietnam. Exports to Japan, China, South Korea and the EU only grew modestly by 3-4% compared to the same period in 2023.

Source: https://congthuong.vn/5-thang-xuat-khau-thuy-san-thu-ve-36-ty-usd-323893.html