Vietnam’s”Vietnam Economy” reported on February 22 that the Vietnam Aquatic Products Processing and Exporting Association (VASEP) stated that under the influence of the new crown epidemic in 2020, global aquatic product trade activities will be disrupted and even changed the consumption trend of aquatic products. Due to changes in the market situation, the export of Vietnam’s main export products such as white leg shrimp, sea prawns, sea fish and crab crabs has increased, and the export of chamois has dropped sharply, and the export of tuna, squid, and octopus has declined slightly.
The major importers of Vietnamese aquatic products such as the European Union, China, South Korea and Japan have only slightly reduced their imports from Vietnam by 3-6%, while the largest market, the United States, has maintained a 10%growth. In addition, imports of aquatic products from Vietnam in other markets such as Russia, the United Kingdom, Australia and Canada have increased by 10-32%.
Vietnam’s aquatic product exports dropped sharply by 10%and 7%in the first and second quarters of 2020, but recovered and increased since the third quarter. By the end of 2020, the country’s aquatic product output reached 8.4 million tons, a slight increase of 3%year-on-year. The export value of aquatic products reached US$8.4 billion, a year-on-year decrease of 1.9%. Among them, aquaculture products such as shrimp and chayu accounted for 62%, with an export value of 5.2 billion US dollars, and fishing aquatic products accounted for 38%, with an export value of 3.2 billion US dollars.
VASEP predicts that the export of aquatic products in 2021 will be better than in 2020, with an estimated export value of US$8.8 billion, an increase of nearly 5%.