Investment News

Seafood exports to US surge 22% in 9 months



Vietnam’s seafood exports to the U.S. rose 22% year-on-year to $1.8 billion in the first nine months as Americans remain the biggest buyers of Vietnamese seafood.

Exports to China surged 76% to $1.35 billion, while to the EU the value went up 41% to $1 billion, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

In total Vietnam’s seafood exports reached $8.5 billion in the first nine months, up 38% year-on-year.

Exports of pangasius fish in September alone nearly doubled year-on-year as inflation pressure urged consumers to tighten their spending and buy more of the affordable protein.

VASEP forecast that Vietnam’s $10 billion exports target for this year will be achievable.

China is expected to be a key market for the remaining months as consumption demand is rising while its geographical proximity with Vietnam is an advantage amid rising transportation costs worldwide.