Aquatic product exports hit 1.64 bln USD in Q1

Hanoi - The export of key aquatic products posted strong rises in many markets in the first quarter of 2021, increasing Vietnam’s aquatic export turnover by 3 percent to 1.64 billion USD.

Of note, shrimp and tra fish exports rose 10 percent and 11 percent in March to 270 million USD and 137 million USD, respectively.

Vietnam earned 646 million USD from exporting shrimp in the first quarter, up nearly 3 percent year-on-year, while the export value of tra fish totalled 336 million USD, a rise of just 0.6 percent.

Exports of squid, octopus, and fish-related products also saw positive growth signs.

According to Le Hang, Deputy Director of the VASEP.PRO centre at the Vietnam Association of Seafood Exporters and Producers, the export of squid and octopus surged 8 percent in March, lifting the total export value in the first quarter to 112 million USD.

The European market is recovering thanks to tariff preferences under the EU-Vietnam Free Trade Agreement (EVFTA), Hang said.

The US, Japan, the Republic of Korea, and China remained the biggest importers of Vietnamese aquatic products in the first two months of the year, accounting for 53.8 percent of the total.

Aquatic export value rose in most markets, with the highest growth reported in Russia, of 44.6 percent.

Exports to China in the months to come are forecast to recover strongly as the country resolves congestion at seaports and loosens procedures to prevent the spread of COVID-19 from imported aquatic products, especially frozen products.

Vietnam’s aquatic exports are predicted to hit 2.32 billion USD for the first four months, an increase of nearly 4 percent year-on-year.