Seafood Exports Play Important Role in Vietnam’s Economy, Says SRI in Its Topical Report Published at MarketPublishers.com20 Apr 2016 • by Natalie Aster
LONDON – Due to initiatives taken by Vietnam’s government to increase exports and to decrease interest rates in order to spur business activities in different sectors, the country’s economy experienced healthy growth in the year 2015. In Q3 2015, the country’s GDP registered 6.81% YoY growth. The fishery sector is viewed as one of the most significant sectors of the domestic economy.
Vietnam exports seafood to more than 150 markets including the United States, the EU, Russia, Japan, China and South Korea, among others. Shrimps, striped catfish and hard clams are the key items forming the country’s seafood exports.
Presently, the Vietnamese seafood industry faces numerous challenges, however, the industry is restructuring itself and also diversifying towards different export markets. In 2015, the value of the Vietnamese seafood exports stood at USD 6.7 billion. In the same year, a YoY drop in exports of both catfish and shrimps was registered.
The report “Assessment of Vietnam's Seafood Market 2016” elaborated by Smart Research Insights (SRI) provides a detailed analysis of the Vietnamese seafood market, explores the major factors shaping the country’s seafood industry. The report is a unique source of vital information on the current market scenario and its future prospects. Moreover, the recent developments influencing the market dynamics are thoroughly examined in this research publication. Furthermore, data on the production, consumption, exports and imports as well as future possible trends are disclosed in the report along with info on the competitive pressures and top players.
More in-demand market studies by Smart Research Insights can be easily found at its page.