According to statistics of the General Department of Customs, seafood export turnover in the first quarter reached 1.8 billion USD, down 28% compared to the same period in 2022. In which, the main seafood groups such as pangasius, shrimp, tuna down 30-37%; crab and other seafood is 2-42%. Among the main export markets, the US recorded the largest decline, over 50% over the same period last year, reaching 284 million USD. Next is Australia with 65 million USD, down 30% compared to the same period in 2022. China reopened, but Vietnamese seafood to this market only reached 279 million USD, 23% lower than the same period last year. Similarly, Japan, Korea, and Thailand also reduced imports by 7-17%, respectively. This is an alarming number for the seafood industry when the main markets simultaneously fell deeply despite efforts to maintain production and reduce costs. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), this industry is facing many difficulties when global inflation increases and demand decreases, adversely affecting domestic production.
Original content
Export orders of enterprises decreased by 20-50%, inventories increased. As a result, domestic production of aquatic materials has slowed down, fishermen and businesses lack capital to maintain farming, exploitation and processing. Currently, the cost of production, materials and labor has increased, so Vietnamese goods are under competitive pressure on prices compared to rivals Ecuador, India, Thailand and Indonesia in major markets. In addition, businesses also face difficulties when the European Commission (EU) has not removed the yellow card for seafood (IUU). Before this development, VASEP forecasts that Vietnam's seafood exports will continue to face difficulties and recover from the third quarter if there are supportive policies on tax exemption and reduction, debt extension or loan interest reduction. Last week, the Government extended the payment of tax (value added, corporate ...
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