Seafood exports stood at $3.47 billion in the first five months of the year, down 25.9 per cent year-on-year, according to the Ministry of Agriculture and Rural Development.

Among key products, tra fish exports reached $690 million, a year-on-year fall of 40.7 per cent, and shrimp $1.12 billion, down 34.4 per cent.

Stable demand for tra fish has helped seafood businesses retain their market share in the EU. In the first four months, exports of tra fish to the EU gained $60 million, down 8 per cent year-on-year. The price of tra fish exported to the bloc increased 9.5 per cent year-on-year.

Exports to China are expected to recover but shipments are dramatically down. Revenue from tra fish and shrimp exported to Vietnam’s northern neighbor in the first four months of the year were down 68 per cent and 30 per cent, respectively.

The Vietnam Association of Seafood Exporters and Producers (VASEP) said exports to China have not recovered as expected due to low demand.