4 agricultural products of Vietnam increase export value
Frozen Whole Catfish
Published Sep 1, 2023
In the first seven months of 2023, pangasius exports from Vietnam to major markets such as China and the US decreased due to a decline in demand caused by the world economy and the Covid-19 pandemic. However, there was growth in exports to smaller markets such as Germany, Finland, New Zealand, Sweden, and Singapore. Additionally, vegetable and fruit exports, as well as rice exports, have shown positive signs, contributing to the overall export value of agricultural, forestry, and fishery products in Vietnam.
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Seafood is expected in the Chinese market In the first 7 months of 2023, pangasius exports recorded a decrease in value in all 5 largest markets of Vietnam. In particular, the Chinese market decreased by 32% in turnover, to 325 million USD; The US decreased by 59%, to 159 million USD. Ms. Le Hang - Communication Director of the Vietnam Association of Seafood Exporters and Producers (VASEP) said that there are two factors affecting the production and export of Vietnamese pangasius over the past time. Firstly, the decline of the world economy causes the demand for this product to decrease in major markets such as the US, EU and China, which are the three main consumption markets of Vietnam. Other markets also face inflation, causing consumption to decline. On the other hand, in the first half of 2022, when the economies of other countries recovered from the Covid-19 pandemic, businesses have massively imported with the expectation of increasing export sales and consumption of ...