AsemconnectVietnam - In the first three months of the year, Vietnam's seafood exports reached a value of 1.85 billion USD, down more than 27% compared to the first quarter of 2022.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the world market is still heavily affected by inflation and the economic slowdown, causing a decrease in seafood consumption demand, leading to export volume and prices.
Crab exports to the CPTPP market increased by 82%
Vietnam's crab exports continued to decline in March 2023. Export value this month reached 11 million USD, down 37% over the same period. The total value of crab exports in the first 3 months of the year was nearly 30 million USD, 42% lower than the same period in 2022. This decline is due to inflation still causing the demand for crabs to decrease in most of the main markets.
Compared to the same period in 2022, Vietnam's export market of crabs and other crustaceans is narrower. By the end of March, these products have been exported to 20 markets around the world. In particular, the CPTPP market (countries participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership), the US, China and Hong Kong, the UK and the EU are the 5 biggest importers of Vietnamese crabs and crustaceans.
In the CPTPP market, crab export turnover to this market in the first quarter of 2023 increased by 82%, reaching more than 14 million USD. Currently, Japan is the leading importer in this market block in importing crabs from Vietnam, accounting for nearly 94%, reaching nearly 14 million USD, up 101%.
Australia- Important market of Vietnamese shrimp in 2023
In February 2023, Vietnam's shrimp exports to Australia recorded a growth signal, reaching $19 million, up 7%. However, shrimp exports to this market in January 2023 decreased sharply due to the Lunar New Year, so by the first half of March 2023, shrimp exports to this market reached 36 million USD, down 31% compared to the same period in 2022.
Australia is Vietnam's second largest shrimp import market in the CPTPP market after Japan, accounting for 27% of Vietnam's total shrimp export value to this market. Australia is also the 5th largest shrimp import market of Vietnam, accounting for 8%.
In 2022, Vietnam's shrimp exports to Australia recorded the second highest growth after China. The export value to the Australian market in 2022 reached US$272 million, up 44% compared to 2021. While the import demand from the US and EU decreased in the last quarter of 2022, the import demand from Australia still maintained good growth from the beginning of the year.
In the 5-year period (2018-2022), Vietnam's shrimp exports increased from $115 million in 2018 to $272 million in 2022, an increase of 137%. The average annual growth rate is 25%. During this period, shrimp exports to Australia grew from 11-44%. The highest growth milestone of 44% is recorded in 2022. The impressive growth in 2022 proves that measures to promote the export of Vietnamese goods to Australia such as diplomatic activities, trade promotion, and FTAs are effective.
Vietnam’s tuna exports to Spain prospered in February 2023
After a 34% decline in January, Vietnam's tuna exports to Spain suddenly reversed in February. The value of Vietnam's tuna exports to this market in February increased by 58%, reaching nearly 1.6 million USD. This figure contributed to bringing the total tuna export turnover to this market in the first two months of 2023 to nearly $2.5 million, up 4% over the same period.
In 2022, Spain is the second largest tuna import market of Vietnam in the EU bloc, accounting for 2% of total export turnover, reaching nearly 22 million USD, up 9% compared to 2021. After the instability in the middle of the year, from the fourth quarter of 2022, Vietnam's tuna exports to this market have grown continuously.
In 2022, Vietnamese enterprises exported a variety of products from fresh and frozen fish to processed tuna products to this market. Entering 2023, Spain only imports frozen tuna meat/loin products from Vietnam.
"Light up" tuna exports to the UK in February 2023
In February 2023, Vietnam's tuna exports to the UK suddenly increased more than 13 times over the same period, reaching 971 thousand USD. This positive result offset the decrease in January and brought the total export turnover in the first two months of 2023 to more than $1.3 million, nearly 3 times higher than the same period in 2022. The UK is currently the 15th largest single tuna import market of Vietnam.
Vietnam is exporting mainly frozen tuna meat/loin (HS code 0304) to the UK market, accounting for 93% of total export turnover to this market in the first 2 months of the year.
Among the major economies, the UK has the highest inflation rate. Entering 2023, inflation in the UK in January fell to 10.1%, but then suddenly accelerated in February 2023 to 10.4%. Currently, inflation has changed the UK's seafood consumption trend, increasing consumption of frozen and processed seafood.
T.Huong
Source: Vitic/Vasep