Vietnam’s seafood exports hit US$4.63 billion in first seven months

The value of Vietnam’s seafood exports in the first seven months of 2018 was estimated at US$4.63 billion, up 6.3% over the same period last year, according to the Ministry of Agriculture and Rural Development (MARD).

Seafood exports in the first seven months of 2018 was estimated at US$4.63 billion.
Seafood exports in the first seven months of 2018 was estimated at US$4.63 billion.

The US, Japan, China and the Republic of Korea were the largest importers of Vietnamese seafood in the first half of 2018, accounting for 53.5% of the total value.

Seafood exports also saw strong growth in the Netherlands, Germany and Hong Kong (China) at 56%, 27.2% and 23.9% respectively.

During the January-July period, Vietnam imported US$984 million worth of seafood, up 27.8% compared with the same period of 2017.

According to the MARD Department of Produce Processing and Market Development, the imposition of a 10% tariff on all Chinese seafood exports by the US and China’s plan to levy a 25% tariff on US seafood will provide an opportunity for Vietnam to boost its exports to these two markets.