Vietnam's 3 "billion dollar" seafood export markets

	The US, Japan and China are Vietnam’s seafood export markets with export turnover worth billion dollar or more
	Seafood exports bustle again in year-end period
	Focus on promoting seafood exports to China

The market Pie Chart: T.Bình.

According to latest information by the General Department of Customs, seafood exports in September reached 814 million USD, down 5.2% compared to the previous month. By the end of September, Vietnam's seafood exports reached 6.6 billion USD, down 22.1% (equivalent to a decrease of 1.87 billion USD) year on year. The United States is still the largest export market with a turnover of 1.17 billion USD, down 33.8%; followed by Japan reaching 1.1 billion USD, down 12.9%; China reached 1.01 billion USD, down 15.9%. These are also the 3 "billion dollar" seafood export markets of the country as of the end of September. In addition, the EU is also the key market with a turnover of 714 million USD, down 31.3% over the same period last year. Positive signals from shrimp exports In the export seafood industry, shrimp exports comprise the considerable turnover. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in September, shrimp exports reached 322 million USD, down 8% year on year. Although negative growth has not yet escaped, the decrease has gradually narrowed month by month. Accumulated by the end of September, shrimp products recorded 2.5 billion USD, down 26% compared to the same period in 2022 and accounting for nearly 39% of the country's seafood export turnover in general. Notably, shrimp exports in September had positive signals from major markets such as the United States, Australia, Canada, Belgium, and Taiwan (China) with positive growth rates from 1% -54%. The remaining major markets such as the EU, Japan, and Korea still had negative growth of 10%-26%, but the decrease was lower than in previous months. Regarding export products, white leg shrimp still accounted for the largest proportion, up to 74% of shrimp turnover, reaching 1.9 billion USD; Black tiger shrimp reached 356 million USD, accounting for 14%... VASEP analyzed that after a long holiday (including Mid-Autumn Festival and National Day) in China, shrimp consumption demand in this important market recorded a sharp decrease due to high inventory from previous imports from Ecuador. Meanwhile, companies holding inventory do not want to reduce prices to release goods. In addition, Japan's discharge of treated nuclear wastewater was also said to affect the demand for seafood in general, including shrimp in the Chinese market. It is expected that in the last quarter of 2023, China's shrimp consumption demand cannot recover. Given the United States, which maintained a positive trend in shrimp imports from Vietnam with constant positive turnover in September. This was the third consecutive month that shrimp exports to the United States reached positive growth. In particular, September recorded the highest growth compared to the previous 2 months and increased by 23% over the same period last year... Pangasius showed positive growth for the first time in 2023 Along with shrimp, pangasius is the most important export product of the seafood industry. Recently, pangasius export is showing positive signs. In September, this product recorded 167 million USD, up 1% over the same period last year, this is the first time in 2023 that this important product group recorded positive growth. However, by the end of September, pangasius exports only reached nearly 1.4 billion USD, down 31% over the same period last year. The main export product was still pangasius under code 0304 (except fish cakes and surimi products) reaching 1.1 billion USD, accounting for 82% of the turnover of pangasius products in general. Regarding the market, in September, pangasius exports to some main markets recorded positive double-digit growth such as China and Hong Kong (China), EU, Brazil, Mexico... With recent positive signs, it is expected that pangasius exports will improve in the fourth quarter of 2023. As another important export product of the seafood, however, tuna exports still witnessed the downward. In September, tuna exports only reached 72 million USD, down more than 7% compared to the previous month. By the end of September, Vietnam's tuna exports reached 617 million USD, down 24% compared to the same period in 2022.