There is still a large potential for Vietnamese seafood exports to China

The Chinese market holds an increasingly important position in Vietnam's seafood exports. In recent years, this market has always been in the top 3 importers, second only to the US and Japan. In 2022, Vietnam's seafood exports to China will reach a record in sales and growth, of 1.6 billion USD and 66% respectively. However, due to falling prices and high inventory, turnover in the first 9 months of this year decreased by 18%, reaching only one billion USD. However, the Vietnam Association of Seafood Exporters and Producers (Vasep) recently commented that 2023 and the coming years have a number of favorable factors, bringing opportunities and space to penetrate deeper into this market. . First, seafood demand in China is recovering as the economy shows positive signs. Vietnam has a favorable geographical location, helping to reduce logistics costs compared to other countries, so it is a competitive opportunity for seafood while the country also finds new sources of supply to ...