Vietnam's seafood export revenue in 2021 mainly comes from processed products

VASEP, Vietnam's Association of Seafood Exports and Producers, reported that the increase in seafood export earnings in 2021 came mainly from processed seafood.

Processed seafood accounts for 28 percent of exports, with exports of about 2.5 billion, close to 2020 levels. Exports of fresh, chilled, frozen and dried seafood, surimi and fish cake reached 6.4 billion US dollars, up 6.5 percent year-on-year, accounting for 72 percent of total seafood exports.

In 2021, shrimp exports amounted to us 3.9 billion, accounting for 44 percent , catfish exports exceeded US 1.6 billion, accounting for 18 percent , and other fish exports amounted to US 1.7 billion, accounting for 19 percent . Tuna exports were 759 million, accounting for 8.5 percent, while squid and octopus exports were 608 million, accounting for 7 percent.

The higher-earning product in 2021 was white-legged shrimp, which accounted for nearly 3 billion, or 33 percent of the total, followed by catfish and tuna. Black tiger prawns accounted for 759 million (7 percent), fish cakes and surimi 619 million (7 percent), squid 315 million and octopus 294 million.

Exports of salmon, cod, mackerel and red shrimp have all declined due to higher transportation costs and lower orders for processed products due to the COVID-19 pandemic.