Japan is the No. 1 seafood importer of Vietnam in the second quarter of 2023

With an export turnover of 713 million USD, Japan surpassed the US to become the largest import market of Vietnamese seafood in the second quarter of 2023, according to a newly updated report of the Association of Seafood Exporters and Producers. Vietnam (VASEP). According to VASEP, in the first half of this year, seafood exports to the US dropped the most (-46%) among the main markets due to the large inventory of shrimp and pangasius in this market, rising inflation, and increasing import demand. exports and consumption decreased. As a result, the US lost its No. 1 market position to Japan. In terms of sales, exports to Japan are not significantly higher than the US, and these two markets still account for 17% of Vietnam's seafood export turnover, reaching $713 million and $706 million, respectively. Among the top 8 markets, export value to Japan decreased the least (-11%). There are two reasons: the proportion of value-added goods exported to Japan is higher than that of other ...