Seafood export in the second quarter is expected to increase by 8% (11-06-2019)
According to the forecast of VASEP, Vietnam's seafood export in the second quarter of 2019 may grow at the most optimistic level of 8% in the context that many seafood products remain stable export.
While seafood export from the beginning of the year to the middle of May, 2019 tends to slightly decrease, the import of raw materials for seafood processing for export of Vietnamese enterprises tends to increase.
According to data from the Department of Import and Export - Ministry of Industry and Trade, during the first 15 days of May 2019, seafood export is estimated at US$ 324.97 million, down 1.9% from the previous 15 days and down by 1.96% over the same period in 2018. Accumulated from the beginning of the year to May 15, 2019, seafood export reached US$ 2.74 billion, down 1% compared to the same period in 2018.
Meanwhile, the first half of May 2019, seafood import reached US$ 86.7 million, up 32.7% compared to the previous 15 days and up 4.6% over the same period in 2018. Accumulated from by the beginning of 2019 until May 15, 2019, import of seafood reached US$ 647.69 million, up 5% over the same period in 2018.
Thanks to many advantages on tax rates while implementing trade agreements, ASEAN is expected to be a potential seafood export market of Vietnam, which will reach US$ 1 billion in the near future, helping businesses reduce dependence on the main import markets.
According to the forecast of VASEP, Vietnam's seafood export in the second quarter of 2019 may increase at the most optimistic level of 8% in case of export of seafood products such as marine fish, tuna, octopus, squid remain the strong growth and tra fish item remains stable growth rate.