China fails to provide expected stimulus to stalled Vietnamese seafood exports

Seafood

China

Vietnam

Published Apr 8, 2023

Tridge summary

After hitting a record value of US$11 billion (€10.2 billion) in 2022, Vietnam's seafood exports stalled in 2023. In the first two months of 2023, Vietnam's seafood export value was 29.1% lower year-over-year at $1.06 billion (€983.2 million). Shrimp sales fell 37% to $350.1 million (€324.7 million), pangasius sales fell 38% to $239.8 million (€222.4 million) and tuna sales fell 27% to US$112.8 million (€104.6 million), down 27% year-over-year, according to Vietnam Customs.

Original content

Sales to Japan decreased by 10% to US$186.4 million (€172.8 million); US sales fell 55.3% to $154.5 million (€143.3 million); sales in South Korea fell 14.5% to US$104.1 million (€96.5 million); UK sales fell 15.1% to US$37.2 million (€34.5 million); sales in Germany decreased by 21.1% to 26.1 million US dollars (24.2 million euros); sales to the Netherlands halved to $21.4 million (€19.8 million); and sales to Canada fell 66.8% to US$19.9 million (€18.4 million). But the data that many in the Vietnamese seafood industry have been most looking forward to and the most disappointing is Vietnamese seafood sales to China, which fell 10.8% in the first two months of 2023 to US$126.4 million (US$117.2 million). million euros). Viet Nam's leading pangasius exporter Vinh Hoan's sales value fell 3 percent year-over-year to VND70 billion ($2.96 million, EUR 2.75 million) in February. The data came as a surprise as China lifted its strict pandemic-related import restrictions earlier this ...

Source: Fishretail