Vietnam’s revenues from seafood exports are expected to reach US$434.5m in the first quarter of this year, a year-on-year increase of 41%, according to the country’s Fisheries Ministry.

The biggest market for Vietnamese seafood exports was the US, which accounted for $183m of first-quarter revenue, followed by Japan, which accounted for $79m. Revenues of seafood exports to China were $51.5m, while the EU accounted for $22.6m of first-quarter revenue.

Frozen shrimp was Vietnam’s main seafood export during the quarter, accounting for $173.5m of revenue, reported OANA.

For 2003, Vietnam has targeted production of 2.44 million tonnes of seafood, of which it expects to export around $2.3bn worth. In 2002, the country earned $2bn from seafood exports and produced around 2.4 million tonnes of seafood.