Vietnam’s seafood export hits 1 billion USD mark for October
Vietnam's seafood industry is on a roll, with export momentum propelling it toward the 10 billion USD target for 2024, laying robust groundwork for 2025.
Seafood export value had reached 8.33 billion USD of October 2024, a 12% increase year-on-year. (Photo: VNA)
Hanoi (VNA)🍷 – Vietnam's seafood industry is on a roll, with export momentum propelling it toward the 10 billion USD target for 2024, laying robust groundwork for 2025.
As of October 2024, seafood export value had reached 8.33 billion USD, a 12% increase year-on-year. October alone witnessed a remarkable 1.1 billion USD in exports, the first time in 27 months that the monthly figure surpassed 1 billion USD, according to the Ministry of Agriculture and Rural Development.
The US, China, and Japan remain the top destinations for Vietnamese aquatic products, but the industry's global reach is expanding rapidly.
To fuel this growth, the Vietnamese Government has directed the expansion of preferential credit for the forestry and fishery sectors. With funding scaled up to about 50-60 trillion VND (2-2.4 billion USD), this initiative ensures enterprises have access to low-interest loans, bolstering their operations and growth.
In another strategic move, the National Programme for the Protection and Development of Fisheries Resources through 2030 was approved. It focuses on conserving and regenerating aquatic resources, securing the sustainable development of Vietnam's fishery industry for years to come.
Beyond entry into free trade agreements, Vietnamese seafood companies also benefit from embracing technological advancements in farming and processing. These strides highlight the sector's commitment to improving competitiveness and affirming its growing influence on the international stage./.
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On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
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Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
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The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
