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Viet Nam Seafood Exports Hit Over $7 Billion

Lucy Towers
05 December 2014, at 12:00am

VIET NAM - Through November 2014, Viet Nam seafood exports reached $7.22 billion, exceeding the annual expected value of $7 billion.

November’s seafood exports added $666 million to cumulative value, making it $7.22 billion, up 19.3 per cent year on year, according to MARD reports.

The United States maintained its position as the leading import market, accounting for 21.85 per cent of total export value, followed by Japan, Korea and China with increases of 8.47, 37.49 and 16.17 per cent, respectively, Vasep reports.

Seafood exports have been increasing at the annual growth rate of 15-20 per cent. Seafood export value increased sharply from $2 billion in 2002 to $6.1 billion in 2011. It was $6.7 billion in 2013, and is expected to reach $11 billion in 2020.

Earnings from shrimp export make up more than a half of total seafood exported from Viet Nam. Pangasius, the runner-up, accounted for 22 per cent.