According to the Ministry of Agriculture and Rural Development, the seafood export value is estimated to reach $582 million, bringing total export value in the first five months of 2020 to $2.81 billion, down 11.5% from last year.
Japan, the US, China and Korea are still the largest buyers of Vietnamese seafood. Sales in Japan reached $434.39 million, giving Japan the rank of the first importer of Vietnamese seafood, accounting for 19.5% of the country’s total seafood export volume, up 5.6% from last year.
Seafood export is forecasted to struggle recovering due to the overwhelming coronavirus pandemic. The export volume may decrease by 5% in quarter II compared to the same period last year and will inch up in quarter III and IV of 2020. However, it is forecasted that seafood export will reach approximately $8.3 billion, down 3.8% from last year.
As for imports, the seafood import value in May reached $142 million, bringing the total import value in the first five months of the year to $691 million, down 5.3% from last year.