Facing uncertainty over US tariff policies, many seafood companies have adjusted their market strategies, focusing on diversification and value-added processing.
While China and Hong Kong (China)experienced robust growth with a 64.9% increase, the US and EU markets faced declines of 16.0% and 17.6%, respectively.
Vietnamese honey has mostly been exported to the US and is now gaining a foothold in the EU, Japan, and South Korea, which all have strict import regulations.
Vietnam earned some $2.4 billion from tra fish exports in 2022, a 70 per cent increase year-on-year and surpassing the record of $2.26 billion posted in 2018.
The US is a market boasting many opportunities for Vietnamese businesses, but bilateral relations need to be boosted further in order to gain broad access in terms of capital, science and technology, and management skills.