Vietnam’s fisheries industry has been showing signs of recovery in the second half of 2023 but still faces many difficulties. The situation is expected to continue until the end of the year and into 2024, a representative from the Ministry of Industry and Trade’s Export-Import Department has said.

Global seafood consumption may not increase in the near future, as market demand has not experienced any significant growth, said Ms. Vuong Thi Oanh from the Export-Import Department.

Figures from the Department show that Vietnam’s seafood exports had fetched nearly $7.5 billion this year as of the end of October, down 20 per cent year-on-year.

“Exports of shrimp to major markets such as the EU, Japan, and South Korea again posted declines of 10 to 26 per cent, which at least were lower than in previous months,” Ms. Oanh said.

“As for mainland China and Hong Kong (China), after recording growth in June, July, and August, shrimp exports to these markets fell in September and October.”