The sector saw a slight increase of nearly 5 percent in the first quarter 2017 and a strong surge in the second quarter thanks to the growth in key export products, including octopus by 50.8 percent, tuna by 18.9 percent, shrimp by 15.6 percent, and tra fish by 6.1 percent.

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Processing seafood for exports. (Photo for illustration)

July export was estimated at USD 714 million in July, raising the total in the first seven months of this year to USD 4.32 billion, up 17 percent and 15 percent year-on-year, respectively.

Two-digit growth was seen in the key export markets, like Japan, China, the Republic of Korea, Russia, Canada, and Brazil, mostly thanks to the increase in the exports of shrimp. However, a remarkable fall was recorded in the US and Australia markets.

According to VASEP, export turnover of aquatic products is expected to continue growing in the remaining months of the year, however, it will be affected by difficulties in the US market.

Source: VNA