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Vietnam Today

Seafood struggles in first half

Released at: 09:06, 27/07/2015

Seafood struggles in first half

Exports of shrimp, tra fish, and tuna tumble significantly.

by Nguyen Quynh

Vietnam Customs has revealed that in the first six months seafood export turnover stood at $3 billion, down 16.3 per cent compared with the first half of 2014. In June alone exports were down 11.8 per cent year-on-year, to $563.8 million.

Of the top 15 largest markets in the world, only Mexico, ASEAN and the UK recorded growth in seafood imports, of around 11 per cent to 49 per cent. In contrast, the US, the EU, Canada and other countries were down by 16 per cent to 38 per cent.

In terms of products, crab and spidercrab saw slight growth in value. Shrimp, tuna, and tra fish fell sharply, in shrimp’s case by 30 per cent.

Although the domestic economy is growing at around 6.3 per cent the value of agricultural, forestry, and fishery has declined considerably compared to previous years.

In the remaining six months of the year the government has set a target for the agriculture sector to earn a profit of VND22 trillion ($1.01 billion) with the aim of achieving growth of 3.3 per cent for the year as a whole.

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