(VOVWORLD) - Vietnam’s aquatic product exports are expected to rake in 9.4 billion USD this year, according to the Vietnam Association of Seafood Producers and Exporters (VASEP).
 Tra fish processing at a factory in Dong Thap province. (Photo: Huy Hung/VNA) |
Analysts at FPT Securities JSC predict that Vietnam will continue to increase its shrimp output in 2021 to 730,000 tons, up 4 percent.
Stable supply will enable Vietnamese shrimp exporters to expand their market shares in export markets, the company said, adding that the shipment of shrimp to the EU, which accounts for 21 percent of Vietnam’s total shrimp export turnover, will be boosted by the EU-Vietnam Free Trade Agreement (EVFTA).
Vietnam’s output of tra fish is also forecast to increase this year. Analysts at the BIDV Securities Company say a strong rebound in demand will boost aquatic product exports, and aquatic companies will also increase imports thanks to their recovery in late 2020 and 2021.