Seafood exports reach close to $3 billion during May

03-Jun-2020 Intellasia | VOV | 6:02 AM Print This Post

The steady recovery of the Chinese and Japan markets has served to boost the total export of aquatic products in May to nearly $ 3 billion, representing a 6 percent fall in comparison to the same period last year, according statistics released by the Vietnam Association of Seafood Exporters and Producers (VASEP).

Most notably, there are strong indicators moving forward with regard to the Japanese market, with seafood exports enjoying a surge of 9 percent after previously enjoying a steep rise of 16 percent during April.

With this level of stellar growth momentum, Japan is expected to retain its position as the largest consumer of Vietnamese aquatic products during the entirety of the year, serving to offset a significant part for the decline which has occurred in both the EU and United States markets.

The VASEP predicts that seafood exports ahead in the coming months will enjoy a gradual recovery with the EU market starting to reopen from May, with demand anticipated to gradually increase in the near future.

Despite this positive outlook, the VASEP believes that the ongoing complicated nature of the novel coronavirus epidemic in the US and other countries will continue affecting trade of global seafood. Therefore, the nation’s seafood exports will find it challenging to enjoy a strong recovery ahead in the remainder of the year. billion-during-may-414393.vov


Category: Economy, Vietnam

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