WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Vietnam seafood exports surpass US$1-billion mark in 2-month
Ngoc Thuy 16:03, 2021/03/09
The US, EU and member countries of the CPTPP would continue to be in the focus for Vietnam’s seafood exports, thanks to preferential treatment from the deal and strong demand.

Despite a decline of 19% year-on-year in Vietnam’s seafood export turnover in February, the country’s total in the first two months surpassed over US$1 billion, representing an increase of 2.2% year-on-year.

 Frozen catfish at Go Dang company, located at My Tho Industrial Park. Photo: Hung Viet

In the first two months of 2021, catfish and shrimp continued to be the two spotlights of Vietnam’s seafood exports with corresponding turnovers of US$214 million and US$380 million, accounting for 21.4% and 38% of total exports, respectively.

A report from the Vietnam Association of Seafood Exporters and Producers (VASEP) noted there have been a growing demand in the global market for affordable seafood products with long expiration date and easy-to-cook at home.

Vietnam’s fishing sector has also received welcome news in early 2021 as the US Customs and Border Protection (CBP) decided to revoke anti-dumping charge of 10% on shrimp products exported to the US from Minh Phu Seafood Corporation.

VASEP suggested the local shrimp products could further take advantage from Vietnam’s existing free trade agreements, especially the EVFTA that ensure a 0% import duty for shrimp exported to the EU.

In January, Japan became Vietnam’s largest seafood buyer with US$112.2 million, down 13.5% against the previous month but up 26.5% year-on-year, followed by the US with US$109.8 million.

Vietnam was the 7th largest seafood supplier for the US in 2020 with 228,900 tons, up 1.8% year-on-year.

Given a favorable short-term outlook for seafood exports, VASEP expected the export in March to rise by 1.5% year-on-year to US$640 million, in which the US, EU and markets under the CPTPP would continue to be in the focus, thanks to preferential treatment from the deal and strong demand.

VASEP, however, warned local producers to further improve product quality to compete with seafood products from major manufacturers such as India or Indonesia, saying this would be a key task to help realize the target for seafood exports of US$8.8 billion in 2021, or an increase of 5% against last year.

RELATED NEWS
TAG: Vietnam seafood exports United States EU CPTPP VASEP
Other news
17:56, 2025/02/22
Vietnam imposes anti-dumping tariffs on certain Chinese steel products
The investigation was launched in response to a request from two domestic producers.
17:50, 2025/02/21
Finance Ministry flags digital currency risks in Vietnam’s upcoming financial centers
Digital assets and cryptocurrencies remain unregulated in Vietnam.
12:58, 2025/02/21
Vietnam to escape middle-income trap with sustained high growth through 2045: PM
An average growth rate of just 7% per year would not be enough to achieve the country's ambitious targets.
15:25, 2025/02/19
Vietnam's economy could surpass US$500 billion this year
If Vietnam’s GDP exceeds $500 billion this year, the country’s economy could rank between 31st and 33rd in the world.
14:57, 2025/02/19
Vietnam’s food delivery service posts highest growth in SEA
Vietnamese consumers increasingly prefer to order ready-to-eat meals via apps due to the convenience and various promotional offers.
14:03, 2025/02/17
Vietnam set to increase power imports
Vietnam is pushing for double-digit economic growth in the coming years, which is expected to drive annual electricity demand growth of 12-14%.