China has become an increasingly lucrative market for Vietnam’s pangasius but Vietnamese enterprises face risks in this market.
In recent years, pangasius exports to China have grown strongly, helping offset the decline in traditional markets like the European Union and ASEAN.
In the past five years, pangasius exports to China increased annually by between 24.2 percent and 88.7 percent to reach 304.7 million USD in 2016, more than four times the export value five years earlier and almost double the value in 2015.
Apart from China, the United States is Vietnam’s only major market that has seen pangasius exports continue to increase, reaching 387.4 million USD in 2016, up 22.8 percent.
Pangasius exports to the European Union have declined over the past three years to 261.1 million USD in 2016. Declines have also been seen in ASEAN (0.2 percent), Mexico (12 percent), Brazil (12.5 percent), Colombia (15.4 percent), and Saudia Arabia (16.6 percent).
However, enterprises who export pangasius to China still face some risks. Exporters should take it into consideration to remain growth in exports to Chinese market.