Vietnam's seafood exports maintain good market share in Singapore

Published 2024년 10월 27일

Tridge summary

Singapore imported seafood from nearly 100 countries and territories in the first 9 months of 2024, with a total import turnover of about SGD 839.1 million, marking a 4.51% decrease from the same period in 2023. Despite this, Vietnam managed to maintain its position as the fifth largest seafood supplier to Singapore for three consecutive quarters. The Singapore Enterprise Authority reported that shrimp, crab, and crustacean seafood, fresh and chilled fish, and frozen fish were the top seafood product groups in the Singapore market. Malaysia, Indonesia, Norway, China, and Vietnam were the top five seafood exporting countries to Singapore. However, Vietnam saw a decrease in export turnover by 2.51% in the first 9 months of 2024, despite a good increase in the Fresh Fish group. The article highlights the need for Vietnam to improve the quality of its seafood products to increase market share and export value sustainably.

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

Original content

According to data from the Vietnam Trade Office in Singapore, in the first 9 months of 2024, Singapore imported seafood from nearly 100 countries and territories with a total import turnover of about SGD 839.1 million (USD 635.24 million), down 4.51% compared to the same period in 2023. However, Vietnam is still among the countries with the largest seafood market share in Singapore and for the first time, Vietnamese seafood has maintained its 5th position for 3 consecutive quarters. Statistics from the Singapore Enterprise Authority show that the seafood product groups that account for a large proportion in the Singapore market include: Shrimp, crab, and crustacean seafood (HS0306), accounting for 24.24% of the total market consumption; followed by Fresh and chilled fish (HS0302), accounting for 18.71%; Frozen fish (HS0303) accounting for 18.55%; Group of fish fillets, chilled or frozen fish meat (HS0304), accounting for 16.94%; Group of molluscs (HS0307) accounting for 10.46%... ...

Source: Vov