Vietnam reaps bigger seafood earnings in first 11 months

Vietnam is estimated to make seafood export turnovers of nearly 2.5 billion US dollars in the first 11 months of this year, posting a year-on-year rise of 14.7 percent, according to the Fisheries Ministry on Friday.

The hike is mainly attributed to the European Union's increasing demand for Vietnamese seafood and rising prices of many items, especially those exported to China.

Vietnam has targeted seafood export revenue for 2.6 billion dollars in 2005 and 4 billion dollars in 2010, up from 2.4 billion dollars in 2004, the ministry said.

To this end, the country is enhancing its capacity of forecasting seafood prices and export demand, and penetrating more deeply into the Middle East, East Europe, Africa and South America.

Source: Xinhua