Vietnam's Spiny Lobster Exports to China Plummet 46% YoY After Wildlife Protection Law Changes

Since May 2023, Vietnamese spiny lobsters have been stopped from being imported to China due to its new regulations in Wildlife Protection Law. The value of these exports for the first nine months of 2023 is reported to be 46% lower than the corresponding period in 2022, amounting to USD 95 million. The impact of the regulatory restrictions is evident in the reduced trade volume and economic value of spiny lobster exports between the two countries during this period.