The Minister is currently leading the Canadian delegation at North America’s largest seafood trade event, Seafood Expo North America on 16-18 March, where she promoted Canada’s role in ensuring very well regulated and sustainable seafood.
“Our Government is committed to maximize economic opportunities in the fisheries, seafood and aquaculture sectors while ensuing their responsible and sustainable management. This upward trend in exports is great news, and we can expect more significant growth over the coming years with our recent trade agreements with the European Union and South Korea,” said Shea.
Canada exported fish and seafood products to 123 countries last year, with approximately 63 per cent of those exports destined for the United States at a value of USD 2.8 billion (USD 2.5 billion).
Canada’s biggest seafood export increase overall was to the US, which saw an 8 per cent (CAD 217 million/USD 195.3 million) increase over the previous year, followed closely by the European Union with an 8.3 percent (CAD 28.6 million/USD 25.7 million) export growth. Canada and the European Union last year agreed on the Comprehensive Economic and Trade Agreement, which has been widely welcomed as a major boom for the industry. Exports to the EU amounted to CAD 372 million (USD 334.9 million) in 2013.
The People’s Republic of China was another important market: it imported CAD 454 million (USD 408.7 million) worth of Canadian fish and seafood products last year.
Canada’s largest exports by value were lobster, snow/queen crab, farmed Atlantic salmon, and shrimp. In 2013, these species accounted for 47 per cent (28,000 tonnes) of all fish and seafood exports by volume and 62 per cent (CAD 2.7 billion/USD 2.4 billion) of the total value of exports.
Aquaculture accounted for 13 per cent of Canada’s total seafood production and 35 per cent of total seafood value.
The Government of Canada also announced last week that Canada and the Republic of Korea have concluded negotiations for a Canada-Korea Free Trade Agreement. The agreement will significantly boost trade between the two countries, eliminating all South Korea’s average tariff of 16.5 per cent in this sector, which includes tariff peaks as high as 47 per cent, on fish and seafood products.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
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