Vietnam's pangasius exports to recover in the third quarter of 2023

Published 2023년 4월 26일

Tridge summary

Vietnam's pangasius exports have seen a decline in both the China and US markets, with a 22% decrease in China and a 64% decrease in the US. Despite this, exports to China slightly increased by 26% in February 2023. The European Union (EU) market showed positive signs with the German market doubling imports, but the US market has not shown any signs of recovery. In the first quarter of 2023, exports to the EU reached $45 million, down 4% from the previous year. However, Vietnam's pangasius export turnover to Singapore and the UK saw positive growth. The pangasius industry is currently facing challenges such as inflation, high retailer inventories, raw material shortages, and high input costs. The government and state agencies are called upon to support the industry for it to recover, with recoveries expected in the third quarter of 2023.

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

Original content

The two largest markets, China and the US, both reduced imports of Vietnampangasius. China is down 22% and the US is down 64%. After a deep decline in January 2023, Vietnam's pangasius exports to China increased by 26% in February 2023, partly showing a positive signal from the Chinese market. Exports to the EU also had a more positive signal thanks to the German market doubling imports of Vietnam pangasius. Meanwhile, the US import market of Vietnam pangasius has not shown any signs of recovery. Many other markets also suffered a deep drop of 12-61%. In the first quarter of 2023, Vietnam pangasius exports to the EU market reached 45 million USD, down 4% compared to the same period last year (46.7 million USD). Most markets in the EU increased imports of Vietnam pangasius, of which many markets recorded double-digit growth, such as Romania (36%), Sweden (53%), Denmark (34%). Bulgaria (49%). Some smaller markets in Europe recorded positive 3-digit growth such as: Germany (100%), ...

Source: Vasep