Vietnam’ General Statistics Office reported that seafood exports in the country decreased 28% year-on-year to nearly US$3.4 billion in the first five months of 2023.
Due to declining demand for shrimp and prawn especially in the major market like the United States in the first half of the year, VNDirect Securities Corporation said the export would recover up to 40-50% year-on-year in the period.
However, the EU market was stable in the past five months because Europeans prefer Vietnamese white fish, especially basa, at a reasonable price amid high inflation, according to VN Express.
Many EU countries, including Sweden, Bulgaria, Germany and Finland imported more Vietnamese basa in the first quarter.
Besides the United States, Vietnam’s largest seafood export markets include the European Union (EU) countries, Japan, China and the European Union (EU) countries.