(VOVWORLD) - Vietnam’s fisheries sector is recovering, with the number of export orders on the rise, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Seafood exports to the US, the biggest importer of Vietnamese aquatic products, are expected to surge 40-50% in the second half of this year, thanks to falling inflation and growing demand during the holiday season.
Tra fish exports to the EU are stable while demand in Japan, South Korea and China is expected to increase slightly from the end of the third quarter.
“Japan, South Korea, and Australia are major importers of Vietnam’s processed and high-value-added seafood. Competition in these markets is not as intense as in the EU, the US, or China. Some Southeast Asian countries are also high-potential markets due to their low inflation, proximity, and tax incentives,” said Le Hang, VASEP’s Communications Director.
Vietnam anticipates seafood exports of 10 billion USD this year.