Supplying the World with Vietnamese Fish
Vietnam reports its seafood exports were up somewhat to $6.1 billion for 2012, when the US surpassed Europe to become its biggest customer — accounting for 19%.
Vietnam is facing obstacles in the US, including dumping and subsidy duties on shrimp that compete with the American shrimp industry. But the growth in Vietnam’s seafood exports will continue.
The Europeans markets together are second in Vietnamese fish imports. That market slumped 15% because of Europe’s financial instability that will continue affecting demand.
Japan is Vietnam’s 3rd biggest importer of Vietnamese seafood, up 9% to $1 billion in 2012, followed by South Korea, China, Southeast Asia, Australia, Canada, and Mexico. Even Russia, Vietnam’s 10th biggest market for fish, imported more than $100 million in seafood.
Vietnam is feeding the world. A generation ago, who would have thought the country that was struggling to feed its own people would become a dominant global seafood exporter?