China's seafood imports in January 2023 decreased by 19% over the same period because of the Lunar New Year holiday. In February, the complete opening of the market after the Covid pandemic has helped import activities to be more active.
In February, China imported 307 thousand tons of seafood, worth 1.34 billion USD, up 32% in volume and 20% in value over the same period last year. Of which, fresh/live/chilled seafood products reached over 22,000 tons, worth US$405 million, up 19% and 9% respectively over the same period last year.
The main seafood imported as fresh/live/chilled products are: lobster, crab, salmon, black tiger shrimp, large white shrimp, eel, and abalone
The main seafood imported as fresh/live/chilled products are: lobster, crab, salmon, black tiger shrimp, large white shrimp, eel and abalone. These products are often used in restaurant, hotel, tourism segments and consumption of high-income families in China. The demand for fresh/live seafood often increases during holidays, Tet, tourist seasons, etc.
In the first two months of this year, Vietnam's seafood exports to China reached $127 million, down 12% over the same period last year, mainly due to a sharp decline in January. In February, Vietnam's seafood exports to China reached over USD 102 million, up 24% compared to February 2022.
The popular Vietnamese products exported to China in the past 2 months include: frozen pangasius fillets, accounting for 41%, fresh/chilled pangasius (whole) accounting for 16%, dried fish (except pangasius, tuna, etc) accounted for 16%, live/fresh/chilled whiteleg shrimp accounted for 7%, live/fresh/chilled black tiger shrimp accounted for 6%, dried squid accounted for 6%. Exports of lobster to China decreased by 91%, only contributing for 1% of total seafood exports to China.
Pangasius is one of popular Vietnamese products exported to China
Vietnam is currently the 7th largest seafood supplier for the Chinese market. Top 6 largest suppliers include: Ecuador, Russia, Canada, USA, India and Norway.
In terms of volume, Russia is exporting the most seafood to China (accounting for 23%) but in terms of value, Ecuador is leading with 19%.
Ecuador's shrimp exports to China in the first two months of this year reached over 95 thousand tons, worth 500 million USD. The volume increased by 18% over the same period, but the value decreased by 3%.
After Covid, China is gradually normalizing production, business and trade activities. China has set a target of 5% economic growth in 2023 with a strategy of further opening up to the world economy. The positive changes of the Chinese market are optimistic signals about the economic and consumption demand in this market.
Vietnamese seafood enterprises look forward to the recovery of the Chinese market. It is forecasted that seafood exports to China will increase gradually in the coming months, for all product segments, and pangasius and fresh seafood species will still be in high demand.
Compiled by Thuy Linh
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(seafood.vasep.com.vn) According to data from Vietnam Customs, Vietnam’s pangasius exports in January 2025 reached over USD 133 million, marking a 19% decline compared to the same period last year. Notably, the ranking of the top pangasius import markets saw significant adjustments.
(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.
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