US leads Vietnam’s seafood importers

18:06 | 27/03/2015 Trade

The US remains top importer of Vietnam’s seafood, accounting for 18.62% of the country’s total seafood export revenue in the first quarter of this year.

US leads Vietnam’s seafood importers

According to latest statistics released by the Ministry of Agriculture and Rural Development, seafood exports in March are estimated at US$417 million, bringing the total export value in three months to US$1.27 million, down 20.6% against the same period last year.

Exports to Japan also saw a decline of 11.73% in the first two months of the year. Meanwhile exports to other markets like China, Mexico, Thailand and the Republic of Korea (RoK) still enjoyed growth.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the US Department of Commerce has announced its preliminary results of the 9th period of review (POR9) according to which the average tariff dropped to 0.93% from 6.37% imposed in the POR8 on Vietnamese shrimp exporting to the US in the period between February 1, 2013 and January 31, 2014.

Furthermore, the rise by 20% of the US dollar against the Euro and Yen last year stimulated consumption and imports to the US. It also creates a motive for Vietnam shrimp exporters to expand their market shares in the country.

Last year, Vietnam ranked third in terms of shrimp export value to the US, after India and Indonesia but came fourth in terms of export quantity, after India, Indonesia and Ecuador.

 Source VOV News