Vietnam's seafood exports to Australia and Canada strongly grew

Published 2021년 3월 30일

Tridge summary

Despite the negative impact of COVID-19 on most of Vietnam's seafood export markets in 2020, exports to Australia and Canada, members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), experienced growth. Exports to Australia rose by 9% and to Canada by 14%. This trend continued in the first two months of 2021, with a significant increase in exports to these countries. Australia became the 7th largest market for Vietnamese seafood in 2020, but rose to 5th place in the first two months of 2021, largely due to a 59% increase in shrimp exports. Canada, the 6th largest market in 2020, also showed steady growth in the first two months of 2021. The article highlights the positive impact of the CPTPP on seafood exports to its member countries, including tariff preferences that are fully utilized by importers, contributing to the expected growth in seafood exports to Australia, Canada, and Chile in the coming months and throughout 2021.

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

Original content

According to the Association of Seafood Exporters and Producers (VASEP), in 2020, while the outbreak of COVID-19 causes Vietnam's seafood exports to the majority of major markets to decline, exports to some countries CPTPP like Australia and Canada recorded positive growth: exports to Australia increased 9%, to Canada increased 14%. In the first two months of 2021, Vietnam's seafood exports to other countries continued to be affected by COVID-19, slowing logistics operations, sea freight rates skyrocketing, and costs for production and exports. increase. However, exports to Australia and Canada, the two members of the CPTPP agreement, still maintained impressive growth, up 38.6% and 11.5% over the same period last year, reaching 39.3 million. USD and 35.4 million USD. Thanks to its high growth rate, Australia from the 7th market in 2020 has surpassed the 5th place in the single markets importing Vietnamese seafood in the first 2 months of this year. VASEP said that the share of ...

Source: Vietnambiz