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Vietnam’s aquatic product exports are expected to reach US$12 billion in 2025

 Last Update: 2021-07-27
 Source: Internet
 Author: User

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(People's Daily) In the follow-up phase, Vietnam's aquatic product exports are expected to continue to maintain a steady growth momentum.
The export value of aquatic products is expected to reach approximately US$12 billion at the end of the 2021-2025 period
.

According to the Vietnam Aquatic Products Processing and Export Association (VASEP), during the period 2016-2020, Vietnam’s aquatic product exports increased by an average of 5% and reached 8.
4 billion U.
S.
dollars in 2020.
Among them, shrimp exports reached 3.
7 billion U.
S.
dollars.
The value is 1.
5 billion U.
S.
dollars, and the export value of seafood products is 3.
2 billion U.
S.
dollars
.

In the past five years, due to volatile demand, fierce competition with the world market, anti-dumping duties imposed on shrimp and fish products in the United States, and the EU’s “yellow card” barriers, Vietnam’s aquatic product exports have staggered, but they are still growing
.
The Aquatic Products Processing and Export Association predicts that during the period 2021-2025, the export of aquatic products will increase by 7% annually, and the export value will reach US$12 billion by 2025, of which the export value of shrimp products will reach US$5.
5 billion, and the export value of fish products will reach 23%.
Billion U.
S.
dollars, seafood products reached 4.
2 billion U.
S.
dollars
.

　　In 2025, the export volume of aquatic products will reach about 6 million tons, of which domestic production will reach 4.
7 million to 4.
8 million tons, and the import of 1.
2 million to 1.
3 million tons (approximately US$2.
4 to 2.
6 billion) from abroad
.

　　The aquatic product processing and export association put forward the above forecast based on the following years.
Although the new crown pneumonia epidemic has reduced the demand for aquatic product sales at the current stage, it has also formed an online shopping trend and promoted an increase in retail sales
.
The epidemic has formed the habit of cooking at home, so the demand for retail market segments (supermarkets) will increase, and the demand for convenience products, convenience foods, and prepared foods will increase
.

　　The representative of the Aquatic Products Processing and Exporting Association believes that the increase in consumer demand in the domestic market is expected to account for about 20% of the turnover, which will make a huge contribution to the development of the aquatic industry
.
In addition, various bilateral and multilateral free trade agreements and various trade promotion activities will boost the development of Vietnam’s aquaculture industry
.
(Finish)

Aquatic products export

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