(vasep.com.vn) In the past time, the structure of export items from Vietnam to South Korea has witnessed positive changes in which agro-forestry and fisheries exports ranked the third position after textile and crude oil.
Seafood exports take the lead in agro-forestry and fisheries exports with the annual growth of 20 percent.
Vietnam seafood export turnover to South Korea increased positively in the period between 2004 and 2007 and rose sharply in 2006 - 2007. In 2008 – 2009, seafood exports were on a downward trend due to economic downturn. However, in 2010 and 2011, seafood exports rallied sharply.
South Korea is the fourth largest importer of Vietnam. In 2011, the market accounted for 7.8 percent of total Vietnam seafood export value. As of July 2012, seafood exports to the market reached US$278.13 million, increasing 13.5 percent compared to the same period of 2011 and occupying 8.2 percent of total Vietnam seafood export value.
South Korea people like Vietnam cephalopod (squid, octopus), bivalve mollusk, shrimp most.
Under the ASEAN Korea Free Trade Agreement (AKFTA), Vietnam sees more opportunities in South Korea. However, to boost further seafood exports, exporters should enhance products’ quality to raise competitiveness, transfer technologies, particularly post-harvest technology to meet requirements in exports.
VIETNAM SEAFOOD EXPORT REVENUE TO SOUTH KOREA, 2004-2011
Unit: US$ million
|
Year
|
2004
|
2005
|
2006
|
2007
|
2008
|
2009
|
2010
|
2011
|
|
Export turnover
|
139,891
|
162,335
|
210,318
|
273,469
|
300,748
|
301,110
|
386,189
|
477,581
|