Seafood exports to drop 5 percent in Q2

Vietnam’s seafood exports will continue to see reductions in next few months due to the pandemic, with a slight year-on-year decrease of 5 percent to 2 billion USD in the second quarter, according to the Vietnam Association Seafood Exporters and Producers (VASEP).
Seafood exports to drop 5 percent in Q2 ảnh 1Japan, the US, the EU and mainland China were the major export markets for Vietnamese export seafood products in the first quarter of this year. (Photo baodautu.vn)

Hanoi (VNA) - Vietnam’s seafood exports will continue to see reductions innext few months due to the pandemic, with a slight year-on-year decrease of 5percent to 2 billion USD in the second quarter, according to the VietnamAssociation Seafood Exporters and Producers (VASEP).

The seafood processing and exporting enterprises would continue facingdifficulties relating to export orders, transport and payment.

The seafood export in the second quarter would not be able to recover becausesome major export markets for local seafood products are still stronglyaffected by the pandemic, especially the EU and US markets. The seafood exportsto China also would not be able to recover.

The shipments are expected to see positive growth in the third and fourthquarters, according to the association.

Vietnam’s seafood export value in the first four months of this year fell 10percent year-on-year to 2.18 billion USD, according to the Ministry ofAgriculture and Rural Development.

The ministry’s Department of Farm Produce Processing and Market Developmentreported that both tra fish andshrimp, Vietnam’s two major export seafood products, had strong declines ofabout 32 percent to 420 million USD and 12 percent to 748 million USD,respectively.

Japan, the US, EU and mainlandChina were the major export markets for Vietnamese export seafood products,making up almost 58 percent of total export value.

Of which, the seafood exportvalue had slight growth of 2.2 percent to 313.3 million USD for Japan marketand 1.2 percent to 286.8 million USD for the US market in the first quarter.But those export values to the EU and China fell sharply by over 28.3 percentto 185.7 million USD and 27.5 percent to 145.6 million USD, respectively.

Meanwhile, the nation saw thehighest seafood export value growth at about 22 percent to Russia in the firstquarter.

The department also said Vietnamspent 545 million USD to import seafood material in the first four months,about 3 percent lower than the same period of last year, mainly from India,Norway, Taiwan, Japan and Indonesia.

Since the beginning of April, transactions on the domestic raw pangasius marketin the Mekong Delta have decreased due to reduction of export orders amid theCOVID-19 pandemic. Meanwhile, China, the largest export market for Vietnamesepangasius products, has not yet recovered.

In January-April period, thenation’s total seafood production reached nearly 2.2 million tonnes, up 0.4 percent compared to the same period last year, including one million tonnesfrom aquaculture.
The nation is estimated to gain a total seafood export value of about 8.3 billion USD this year, down 3.8 percent compared to 2019./.
VNA

See more

A graphic image of a new terminal of Phu Quoc International Airport (Photo: CPG Consultants)

Sun Group licensed to operate Sun PhuQuoc Airways

Sun PhuQuoc Airways has a total operating duration of 50 years, with an investment capital of 2.5 trillion VND (approximately 98.81 million USD). The airline's main operations hub is located at Van Don International Airport, Van Don district, Quang Ninh province.

Real estate bonds issued from June-December are expected to be worth about 79.77 trillion VND. (Photo: chinhphu.vn)

Real estate bond market rebounds in May

May also witnessed a significant volume of early redemptions. Businesses repurchased bonds worth about 15.86 trillion VND before maturity - an increase of 6.7 % compared to the same period in 2024.

Domestic fuel prices adjusted upward from 3pm on June 12. (Photo: VNA)

Fuel prices continue upward trend on June 12

The price of E5 RON92 petrol is now capped at 19,462 VND (0.75 USD) per litre, up 199 VND from the previous adjustment, while RON95-III costs no more than 19,967 VND per litre, up 269 VND.

Minister of Industry and Trade Nguyen Hong Dien (R) meets with Senator Roger Marshall. (Photo: VNA)

Vietnam ready to further open market for US exports: Minister

Regarding the ongoing negotiations on a Reciprocal Trade Agreement between the two countries, he emphasised that Vietnam remains consistent in its approach to the talks with the US, aiming for a bilateral agreement based on respect for sovereignty, independence, political system, harmonisation and balance of interests, as well as in line with international commitments and the development level of each country.

Vietnam’s auto sales near 30,000 units in May (Illustrative photo: VNA)

Vietnam’s auto sales near 30,000 units in May

Of the vehicles sold, there were 20,014 passenger cars, 8,983 commercial units, and 213 special-purpose vehicles. While passenger car sales dipped 3.6% from the previous month, commercial vehicles surged 4% and specialised ones climbed 6%.