Aquatic exports enjoy 25 percent growth last month
The export of aquatic products recorded strong growth last month although the Russia-Ukraine crisis has disrupted shipments to the two European countries since late February and caused spikes in shipping costs and input expenses, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The export of aquatic products recorded strong growth in March. Illustrative photo. (Source: VNA)
HCM City (VNA) – The export of aquatic products recorded strong growth last month although the Russia-Ukraine crisis hasdisrupted shipments to the two European countries since late February andcaused spikes in shipping costs and input expenses, according to the VietnamAssociation of Seafood Exporters and Producers (VASEP).
In March, Vietnam exported 920 million USD worth of aquaticproducts, a year-on-year increase of 25 percent, VASEP reported. However, therate reflected a slowdown after the sector posted spectacular growth of 44percent in January and 62 percent in February.
Total shipments reached 2.4 billion USD in the first quarterof 2022, up 40 percent against the same period last year.
This was attributed to the impressive recovery of tra fishexports which expanded 88 percent to hit 646 million USD during the period onthe account of surging demand from major markets, such as the US, China and theEU. The fish has again become a key export item, accounting for 27 percent of the total aquatic exports, the association said.
Shrimp contributed the largest export share of 37 percent inMarch, earning more than 345 million USD in turnover, up 21 percent. The Q1revenue exceeded 900 million USD, up over 37 percent year-on-year.
The seafood processing sector has been struggling as soaringfuel prices, triggered by the Russia-Ukraine conflict, are imposing a heavyburden on offshore fishermen. Last month, seafood exports expanded by just below 3 percentto total 312 million USD, largely thanks to good growth (20 percent) inshipments of tuna, squid and octopus.
By the end of the first quarter, Vietnam shipped some 878million USD worth of seafood abroad, of which 234 million USD came from tuna,up 55 percent; and 156 million USD from squid and octopus, up 35 percent. Thelargest growth was seen in the shipments to the US (42 percent), China (77 percent), and the EU(37 percent).
Vietnam’s aquatic exports are expected to pick up 25 percentto 934 million USD in April./.
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The export of aquatic products recorded strong growth in March. Illustrative photo. (Source: VNA)
