Analyst Pin-board: Fishery Sector – 4M2020 Pangasius and Shrimp Exports and 2H Forecast
4T2020 seafood exports fell sharply amid the pandemic contagion and prevention measures
In 4M2020, Vietnam's seafood exports reached USD 2.23 billion, down 8% YoY due to the negative impact of COVID-19. Exports value plunged when the orders of social distancing and suspension of business were implemented in almost all markets. Exports to the EU, the US, China-Hong Kong, the ASEAN bloc decreased by 34%, 2%, 11% and 9%, respectively, over the same period in 2019. Only the Japanese market posted a positive growth of 5% as this country only implemented social distancing for a short time. Preliminary statistics of the Vietnamese Ministry of Industry and Trade showed that seafood exports in May reached USD 620 million, down 18% YoY and approximately the value of April.
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