Vietnam’s aquatic product exports are expected to rake in 9.4 billion USD this year. (Photo: VNA)

The US, Japan, China and the Republic of Korea are the four leading import markets of Vietnam’s seafood.

Statistics of the General Department of Customs showed that during the Lunar New Year (Tet holiday), Vietnam’s commodities were exported to 80 markets, an increase of 7% compared to last Tet.

Specifically, the Chinese market held the largest share with 26% of the total export value, at 189 million USD. It was followed by the US with 152 million USD (21%), the Republic of Korea with 67 million USD (19%), and Hong Kong (China) with 57 million USD (8%).

During the 7 days of the Lunar New Year from February 10 to 16, Vietnamese businesses imported commodities from 57 countries and territories. Specifically, imports from the Republic of Korea made up the biggest value at 355 million USD (38%), China had 159 million USD (17%) and the US had 88 million USD (9%).

According to the Vietnam Association of Seafood Producers and Exporters (VASEP), Vietnam’s aquatic product exports are expected to rake in 9.4 billion USD this year, a year-on-year increase of 10%.

This is driven by a strong rebound in demand of export markets and the support of free trade agreements.

Analysts of FPT Securities JSC (FPTS) predicted Vietnam would continue increasing shrimp output in 2021, reaching 730,000 tonnes, up 4% year-on-year.

Stable supply will be an advantage for Vietnamese shrimp exporters to expand their market shares in export markets.

The prices of exported shrimps are also forecast to rise slightly by 5 percent to an average of 9.6 USD per kg, according to an FPTS report./.

BTA