Great opportunity for Vietnamese seafood to China worth 19 billion USD

Published 2023년 3월 10일

Tridge summary

In 2022, China's seafood imports surged by 35.3% to 19.1 billion USD, with Vietnam becoming the second-largest seafood supplier to China, marking a 133% increase in exports to China compared to 2021. The trade value of Vietnamese seafood in China's total imports rose from 5.1% in 2021 to 8.8% in 2022. Vietnamese seafood exports to China, including shrimp, crab, salmon, squid, pollock, and cod, saw significant growth, particularly with the opening of new seafood cold storage facilities in China. Experts anticipate that China will continue to be a lucrative market for Vietnamese seafood in 2023 due to its demand, proximity, and lower logistics costs, highlighting the importance of strengthening trade promotion and trade connections between businesses from both countries.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Great opportunity for Vietnamese seafood In 2022, despite the implementation of the "Zero Covid" policy, China still spent 19.1 billion USD to import seafood for domestic consumption, an increase of 35.3 % compared to 2021. Ecuador and Russia are the two largest seafood suppliers to the Chinese market in 2022, with a turnover of 3.56 billion USD and 2.77 billion USD respectively. In third place is Vietnam. China's seafood imports from Vietnam reached US$1,681 billion, an increase of nearly 133% compared to 2021. The proportion of Vietnamese seafood in China's total import value increased from 5.1% in 2021 to 8. 8% in 2022. At the recent forum "Promoting trade in agricultural, aquatic and aquatic products between Vietnam and China (Guangxi)", Deputy General Secretary of the Association of Seafood Exporters and Producers Vietnam Products (VASEP) Nguyen Hoai Nam said that from the third position, China has risen to become the second largest seafood import market of Vietnam.7 ...

Source: Vietstock