Seafood exports in 2021 reach over 8.9 billion USD

Although the Covid epidemic seriously affected production and exports, especiall in the third quarter, the seafood business community was worried about the export target of 8.8 billion USD. But micaculuously, right after the Government issued Resolution No.128/NQ-CP, Vietnam's seafood exports made a spectacular comeback in the last months of the year, bringing the full year 2021 results above expectations with over 8.9 billion USD, up 6% compared to 2020.

After a sharp increase of 23% in November, seafood exports in December continued to increase by 29% to over US$940 million. In December 2021, exports of all key products increased sharply by 6-110%.

Thanks to a breakthrough in December, with a growth rate of about 80% to about USD 245 million, pangasius exports for the whole year 2021 reached the destination far beyond expectations with over USD 1.6 billion, up 10%.

Shrimp exports in December increased by 10% to about 325 million USD. By the end of the year, shrimp exports reached 3.88 billion USD, up 4%. Tuna exports increased by 55% in December to USD 85.5 million, bringing the whole year result to USD 757 million. Export of squid and octopus in December reached over 60 million USD, up 10%, of which the whole year export reached over 600 million USD.

Exports to China in December rebounded the most, increasing by 90% to over $170 million. However, because exports to this market continuously decreased from March to October, the total export value in 2021 still decreased by 14% compared to 2020 to reach 1.17 billion USD. China only accounts for 13% of Vietnam's seafood exports, in comparison with 16% of 2020.

The US still accounts for the highest proportion, 23% of Vietnam's seafood exports with over 2 billion USD in 2021, an increase of 26% compared to 2020. Particularly in December 2021, seafood exports to the US reached 176 million USD, up 32% over the same period in 2020.

In 2021, seafood exports to the EU market account for 12% with over 1 billion USD, up 12% compared to 2020. Last month, seafood exports to the EU also increased sharply by 26% to reach 109 million USD.

Exports to CPTPP countries in 2021 will earn nearly 2.2 billion USD, almost equivalent to 2020. In December alone, exports to this market block reached 209 million USD. While exports to Japan continued to decline by 8% in December , exports to Australia still grew by 13%. Exports to Japan in 2021 reached 1.3 billion USD, down over 6%, while exports to Australia reached 265 million USD, up 6% compared to 2020.

Source: VASEP