Vietnam’s seafood exports to Japan reached 310 million USD in the first three months of this year, down 11% from the same period last year.
Declines in export revenue were reported in products such as whiteleg shrimp (down 35%), salmon (down 4%), and octopus (down 6%). Meanwhile, export revenue from Japan increased in products such as squid, scad, pollock, tuna, and horse mackerel, with an increase of 13-88%.
The US lost its leading position in importing Vietnamese seafood because of a sharp 50% decline in export revenue, reaching only about 290 million USD in the first quarter of this year.
Vietnam’s seafood export revenue to China posted nearly 255 million USD in the first quarter of this year, down 22% compared to the corresponding period last year. The export revenue to the Republic of Korea and to the EU also fell by 13% and 29%, respectively.
VASEP said that it will be difficult to make a breakthrough in seafood exports to large markets such as the EU, the US, Japan, and the Republic of Korea because inflation is causing consumers to their tighten spending while average export prices have dropped compared to last year.
