Vietnam’s seafood exports and imports in first two months of 2019
Monday, March 25,2019AsemconnectVietnam - Meanwhile, the country’s imports of seafood slightly decreased year – on –year to 264.14 million USD.
Vietnam’s exports of seafood increased 3.5 per cent in first two months
Vietnam’s seafood exports continued to decline in the first 2 months of the year (the exports of seafood decreased by 3.5 per cent in January 2019 and 49.7 per cent in February to 372.78 million dollars), according to the preliminary statistics figures of the General Department of Customs. Generally, seafood export turnover of the whole country in the first 2 months of 2019 reached nearly 1.11 billion USD, 3.5 per cent higher than the first 2 months of 2018.
There were 6 leading seafood export markets with a turnover of over 100 million USD in the first 2 months of the year, including the US, EU, Japan, China, South Korea, and Southeast Asia; in which, the exports of seafood to Japan reached 180.1 million USD, accounting for 16.2 per cent of the total seafood export turnover of the whole country, increasing by 13 per cent over the same period in 2018. The exports to the US reached 177.88 million USD, accounting for 16 per cent, up by 8 per cent. EU accounted for 14.5 per cent, reaching 161.21 million USD, down by 11 per cent. China accounted for 10.9 per cent, reaching 121.24 million USD, up by 8.8 per cent. South Korea accounted for 9.6 per cent, reaching 106.66 million USD, up by 1 per cent. Southeast Asia accounted for 9.1 per cent, reaching 101.17 million USD, up by 9.2 per cent.
Exports of seafood to several leading exports in the first two months
In general, the country’s exports of seafood to almost all markets in February 2019 saw a drop in turnover compared to January 2019. However, in the first 2 months of this year, the number of markets with increased turnover accounted for the majority, in which exports to Ukraine increased sharply by 185.8 per cent to 3.04 million USD; to Egypt increased by 110.5 per cent, reaching 6.43 million USD; to Turkey increased by 70.7 per cent, reaching 1.57 million USD.
In contrast, the seafood exports to Saudi Arabia fell sharply by 98.7 per cent, reaching only 0.17 million USD. Exports also fell sharply in some other markets such as: to Indonesia fell by 87.9 per cent, reaching 0.05 million USD; to Pakistan fell by 80.2 per cent, reaching 1.65 million USD; to Czech decreased by 57.6 per cent, reaching 0.46 million USD.
Forecast for seafood exports in the coming time
The Department of Processing and Development of Agricultural Products said that Vietnamese catfish exporters will face a lot of competition with Myanmar in the Chinese market, due to Myanmar Fisheries Union (MFF) and Global Earth Public Ltd. are finalizing the project in Ayeyawady area, to produce export catfish. The project includes fish farms, feed mills, processing plants and cold storage. The project is developing 6 million breeding fish and is currently preparing 404 hectares to produce finished fish. All fish produced in the project aim to export.
For the shrimp industry, on January 14, 2019, the Comprehensive Partnership and Transpacific Progress Agreement (CPTPP) was officially in force for Vietnam. Thus, Vietnamese shrimp exported to Japan will benefit from this Agreement. Ready-to-cook shrimp products with high usability will grow well in the near future as Japan's ready-to-eat food industry grows as the number of single people increases, the housework rate falls.
In order to promote shrimp exports to Japan, businesses should innovate market access methods along with promoting their brands more strongly, ensuring product quality. It is forecasted that in 2019, Vietnam shrimp exports to Japan will achieve double-digit growth compared to 2018.
Vietnam’s imports of seafood decreased 2.8 per cent in first 2 months
According to the preliminary statistics of the General Department of Customs, Vietnam’s imports of seafood in the first 2 months of 2019 decreased slightly by 2.8 per cent compared to the same period in 2018, reaching 264.14 million USD. In February only, the seafood imports decreased by 31.3 per cent compared to January of 2019 but increased by 8.9 per cent compared to February 2018, reaching 107.48 million USD.
Vietnam imported seafood mostly from the Norway, accounting for 12.8 per cent of the total import turnover of this group of the country, reaching 33.9 million USD, up 21.5 per cent over the same period last year.
Vietnam’s leading seafood import markets in the first two months of 2019
India was the second largest market for seafood supply to Vietnam in the first 2 months of this year with 28.65 million USD, accounting for 10.8 per cent of the total import turnover, down sharply by 55.8 per cent over the same period last year. The third largest market was Southeast Asia, accounting for 10.7 per cent with 28.33 million USD, up by 29.6 per cent.
Next, the Japanese market accounted for 8.2 per cent of the total import turnover of this group of the whole country with 21.65 million USD, up by 35.3 per cent year – on - year. China accounted for 7.9 per cent with 20.93 million USD, up by 22.6 per cent.
In the first 2 months of this year, besides Indian market, there are 4 more seafood import markets with a decrease in turnover over the same period last year, included: Poland - fell by 67.5 per cent with 0.66 million USD; Chile - fell by 41.5 per cent with 10.15 million USD; Taiwan - dropped by 27.3 per cent, reached 15.31 million USD and Malaysia - fell 8 per cent, reaching 0.75 million USD.
However, the country’s imports of seafood from the Korean market increased by 82.3 per cent, reaching 14.5 million USD. Besides, imports from Russia increased by 53.6 per cent, reaching 16.85 million USD; from America - increased by 49.9 per cent, reaching 10.6 million USD; from Singapore - increased 36.5 per cent, reaching 1.42 million USD; from the UK increased by 36.3 per cent to reach 4.32 million USD.
CK
Source: VITIC
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