Imports of aquatic products top US$730 million

Vietnam’s aquatic products imports from January to May rose about 5% year-on-year to cross US$730 million, according to the Agro Processing and Market Development Authority under the Ministry of Agriculture and Rural Development.

 

During the first five months of the year, fisheries were chiefly imported from Norway, which accounted for nearly 12% of imports, followed by India, China, and Japan.

Imports from the Filipino market increased 76%, showing a stronger growth compared to last year, while imports from the Indian market fell by more than 40%.

Most of the imported aquatic products are chiefly processed for exports. Last year, for instance, over 90% of imported items served this purpose.

Data from the Vietnam Association of Seafood Exporters and Producers (VASEP) shows that the country’s import turnover of aquatic products last year rose 19% from that recorded in 2017, with import values averaging almost US$150 million per month.

Last year, Vietnam spent over US$1.7 billion on imports of aquatic products. Shrimp accounted for around US$450 million of the total aquatic products imports, a decline of 9% versus the figure recorded in 2017, while tuna and other marine fishes worth more than US$350 million and US$670 million, respectively, were imported, both showing an increase of about 30% against the 2017 figures.

The country imported aquatic products from 97 countries and territories last year, with over 70% of the total imported volume coming from the top ten suppliers, including India, Norway, China, and Taiwan.

saigontimes

 

 

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