Lying at the junction of Asia, Africa and Europe, the Middle East serves as a gate for goods to penetrate neighboring regions. It is also a promising new market for Vietnamese seafood.
Despite the negative impact of the European public debt crisis, the Ministry of Agriculture and Rural Development (MARD) reports that Vietnam’s seafood exports have maintained steady growth and are estimated to hit USD 500 million in May to raise the total value in the first five months of this year to USD 2.3 billion, a year-on-year increase of 9.8 percent.
Seafood exports to the Middle East witnessed a dramatic rise in earnings, which helps cover revenue losses in the European market and provides impetus for for the seafood sector to continue growing.
The Vietnam Association of Seafood Exporters and Producers (VASEP) said seafood products shipped to the Middle East have increased in value from USD 192 million in 2009 to USD 225 million in 2010 and USD 274 million in 2011.
Vietnam is boosting seafood exports to the United Arab Emirates (UAE), Israel, Sudan, Lebanon, Iraq and Kuwait, it said.
Of those countries, the UAE is Vietnam's largest customer and a crucial gateway for transporting goods to other Middle Eastern and North African nations.
The UAE is a major crude oil exporter, as well as the second biggest economy in the Muslim world, and ranks 17th among the world's 61 most competitive economies. However, its seafood production can only meet 25 percent of its total demand so it must import the remainider from other countries.
The UAE mainly imports butterfish, anchovies, garrupa, tuna, lobster, mollusks, tra fish and salmon from Vietnam.
Tuna exports to the UAE have increased noticeably in value from USD 522,000 in 2009 to over USD 2 million two years later.
Meanwhile, tuna exports to Sudan reached nearly USD 1.5 million in revenue in the first four months of this year, an enormous year-on-year increase of 655 percent, making it one of the top ten importers of Vietnamese tuna.
This shows positive results from efforts by domestic tuna producers to seek business opportunities for exports to new markets in the Middle East. Seafood exports from Vietnam have many advantages in the region and they are now in ever increasing demand.
Many Middle Eastern countries are heading east for trade and investment, which creates more opportunites for Vietnamese goods to penetrate and increase their shares in those markets.
With average annual economic growth of 6-14 percent, the Middle East region is considered a market with great potential for Vietnam.
Although, there are no strict regulations for product quality and packaging, Vietnamese businesses still face uphill battles because of legal and technical obstacles, as well as the ways of doing business in this market.
They also suffer from a high risk of payment, unstable security, a lack of information, fierce competition due to low import taxes and a poor network of Vietnamese representative offices in the region.
To overcome these problems, the Vietnamese Directorate of Fisheries and the Vietnam Chamber of Commerce and Industry (VCCI) recently sent a number of trade delegations to survey the Middle Eastern market.
(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.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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