Vietnam seafood exports kept growing in the first 9 months of 2011

In the first 9 months of 2011, Vietnam seafood exports kept growing even though sovereign debt crisis in EU (leading importer of Vietnam seafood) is hurting the global economy.

During this time, Vietnam seafood exports to EU reached US$4.3 billion, up 23.9 percent over that of the same period last year in which shrimp and pangasius exports (two key export items of Vietnam) reached US$1.7 billion and US$1.3 billion, respectively. Tuna, mollusk and other export items reported positive growth in the past 9 months.

In the period of Jan-Sep 2011, Vietnam tuna export value gained US$284.7 million, up 28.9 percent from that of the corresponding period last year. Three main importers of Vietnam tuna recorded high growth. Among top tuna importers from Vietnam, Japan ranked the third with US$34.7 million, accounting for 12.2 percent of the proportion of Vietnam tuna export value with the highest growth of 82.8 percent from that of the same period of 2010. The U.S. (the leading tuna importer of Vietnam) imported US$132.6 million, making up 46.6 percent of the proportion with the growth of 32.6 percent from that of the same period of 2010. EU with the second position imported US$52.5 million, taking 18.5 percent of the proportion and the growth of 18.5 percent against the same period last year.

In Jan-Sep 2011, Vietnam mollusk exports reached US$420.1 million, up 23.9 percent against the same period last year in which cephalopod exports was up 31.8 percent with the export value of US$359.7 million; bivalve mollusk exports reached US$60.4 million, down 8.6 percent due to lack of raw material while demand from foreign markets remained. South Korea – the largest importer of Vietnam cephalopod – imported US$123.9 million of Vietnam squid and octopus in the period, up 53.9 percent over that of the same period of 2010, followed by EU with US$85.4 million (up 30 percent) and Japan with US$83.5 million (up 16 percent). Japan and South Korea are representing nearly 80 percent of the proportion of Vietnam cephalopod exports.

EU, Japan and the U.S. are representing over 55 percent of the proportion of Vietnam seafood exports despite their economic instability, especially EU and the U.S. Japan’s economy is recovering positively after natural disasters in March, but Japanese Government is warning implicit hazards. In the last quarter of 2011, Vietnam seafood exports to these three importers (EU, Japan and the U.S.) may face difficulties

Source: VASEP