Vietnam seafood exports in the first quarter may be about 15-20% lower

Published 2023년 3월 3일

Tridge summary

The Vietnam Association of Seafood Exporters and Producers (VASEP) anticipates a 15-20% decrease in seafood exports in the first quarter of this year, compared to the same period last year, due to inflation and economic recession. However, a recovery is expected in the second quarter, driven by international seafood fairs, the Chinese market, and strategic adjustments by Vietnamese seafood businesses. Despite the challenges, there are markets that have seen significant growth, with Finland's imports increasing by 435%. The export of various seafood species has also seen diversification, with increases in scad, cobia, hoki, croakers, drifted fish, oysters, and snails. While shrimp exports have decreased, there has been an 18% increase in shrimp exports. Despite the difficulties faced by many businesses, over 700 units continued to participate in seafood export in the last quarter of 2022, with some enterprises experiencing positive growth in January 2023.

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Original content

That is the opinion of the Vietnam Association of Seafood Exporters and Producers (VASEP). According to Ms. Le Hang, Communications Director of VASEP, in the first quarter of this year, seafood exports may still be about 15-20% lower than the same period last year. However, after the International seafood fairs in March and April, along with the adaptation and boom of the Chinese market as well as the strategic adjustment of Vietnamese seafood businesses, it is expected that exports will gradually recovered from the second quarter. Inflation and economic recession caused seafood export orders from major markets to drop sharply. Most of the member countries have reduced their seafood imports by 30-60%, but there are still markets with outstanding results with an increase of 435% like Finland. Exports to Poland also decreased slightly by 1%, to Cyprus by 5%... According to Ms. Le Hang, export products have also been diversified and there are still many species imported by markets ...

Source: Vinanet