Seafood exports hit $3.6 bln in 5M

Seafood exports of Vietnam showed positive signs with significant growth seen in some key products like tuna and crabs, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

In May, seafood export revenue was estimated at $870 million, up 7% year-on-year.

The figure brings the total value of seafood exports in the five-month period of this year to $3.6 billion, a year-on-year surge of 6.5%.

Tuna exports contributed $397 million, up 25% compared to the same period last year, while crab shipments rose remarkably 84% to reach $101 million.

Tuna exports to most of market increased significantly, including the US, Russia, South Korea and EU countries, particularly Italy, Germany and the Netherlands.

Exports of tuna to the EU have experienced continuous growth after the EU-Vietnam Free Trade Agreement was signed, according to VASEP. The export value rose 30% from $136 million in 2020 to $176 million in 2023.

Vietnam is currently the seventh largest tuna supplier to the EU.