Imports of aquatic products top $730 million

24-Jul-2019 Intellasia | The Saigon Times | 6:02 AM Print This Post

Vietnam’s aquatic products imports from January to May rose about 5 percent year-on-year to cross $730 million, according to the Agro Processing and Market Development Authority under the Ministry of Agriculture and Rural Development.

During the first five months of the year, fisheries were chiefly imported from Norway, which accounted for nearly 12 percent of imports, followed by India, China, and Japan.

Imports from the Filipino market increased 76 percent, showing a stronger growth compared to last year, while imports from the Indian market fell by more than 40 percent.

Most of the imported aquatic products are chiefly processed for exports. Last year, for instance, over 90 percent of imported items served this purpose.

Data from the Vietnam Association of Seafood Exporters and Producers (VASEP) shows that the country’s import turnover of aquatic products last year rose 19 percent from that recorded in 2017, with import values averaging almost $150 million per month.

Last year, Vietnam spent over $1.7 billion on imports of aquatic products. Shrimp accounted for around $450 million of the total aquatic products imports, a decline of 9 percent versus the figure recorded in 2017, while tuna and other marine fishes worth more than $350 million and $670 million, respectively, were imported, both showing an increase of about 30 percent against the 2017 figures.

The country imported aquatic products from 97 countries and territories last year, with over 70 percent of the total imported volume coming from the top ten suppliers, including India, Norway, China, and Taiwan.$730 million.html


Category: Economy, Vietnam

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