Vietnam exports $4.5Bln seafood in Jan-Nov

Vietnam is estimated to have exported $4.5 billion worth of seafood in the first 11 months of this year, contributing 7% to export revenue, the General Statistics Office of Vietnam (GSO) said.

The increase in seafood export revenue partly due to dong devaluation, higher world demand and higher domestic seafood productions.

The dong depreciated against the dollar which boosted up seafood export on competitive price aspect, the online newspaper Nguoilaodong reported on July, citing Truong Dinh Hoe, Secretary-General of the Vietnam Association of Seafood Exporters and Producers (VASEP) as saying.

The State Bank of Vietnam weakened the dong’s reference exchange rate by 5.52% in two downward adjustments on February 10 and August 17.

In Jan-Nov, Seafood output is estimated to reach 4.682 million tons, increasing 5.2% on year due to stable demand, including 206,100 tons exploited in November.

Vietnam seafood export is estimated to reach between $4.5-4.7 billion in the whole year 2010, the Ministry of Agriculture and Rural Development and the Ministry of Industry and Trade said.

There are currently 27 seafood companies listed on the HoSE and the HNX which earned VND5,976 billion revenue ( trailing twelve months), the StoxPlus’ data showed. – Stoxplus.com

Tags: Vietnam exports