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Vietnam’s exports and imports of seafood in January of 2020 

 Friday, February 28,2020

AsemconnectVietnam - In the first month of this year, Vietnam’s exports of seafood fell compared with the previous month and the same period last year, according to the General Department of Customs.

The country’s imports of seafood also decreased year – on – year in the first month of this year.

Vietnam’s exports of in January of 2020
Vietnam’s seafood exports of the whole country in the first month of 2020 plummeted by 32.2 per cent compared to December of 2019 and also fell by 33.7 per cent compared to January of 2019, only reaching above 491.64 million USD, according to the General Department of Customs.
Of which, the exports of fish reached 379,900 tons, up by 1.3 per cent; shrimp - 47,200 tons, up by 6.1 per cent; and other aquatic products - 75,200 tons, up by 1.2 per cent.
The seafood exports of foreign-invested enterprises alone (FDI) reached 41.36 million USD, accounting for 8.4 per cent of the country's total seafood export turnover.

Leading seafood export markets in January of 2020
Japan was leading the list of Vietnam’s seafood export markets with the turnover of 88.72 million USD, accounting for 18.1per cent of the country's total export turnover of this commodity group, down by 18.9 per cent compared to December of 2019 and also decreased by 28.2 per cent compared to January of 2019.
The US market ranked second with 86.68 million USD, accounting for 17.6 per cent, down by 27.5 per cent compared to December of 2019 and also down by 26.3 per cent compared to January of 2019. The exports to the EU reached 69.46 million USD, accounting for 14.1 per cent, down by 28.9 per cent and 35.7 per cent respectively; to South Korea reached 50.43 USD, accounting for 10.3 per cent, down by 27.2 per cent and 31.5 per cent respectively; while the exports to the Southeast Asia market reached 45.03 million USD, accounting for 9.2 per cent, down by 22 per cent and 32 per cent respectively.

In January of 2020, Vietnam’s seafood exports to almost all markets saw a decrease in turnover compared to January of 2019, especially the exports to Iraq decreased by 85 per cent, reaching 0.15 million USD; to Switzerland - decreased by 79.8 per cent, reaching 0.43 million USD; to Mexico - decreased by 64.8 per cent, reaching 69.8 million USD; to New Zealand - decreased by 62.5 per cent to 0.84 million USD.
In contrast, there were several export markets that have increased sharply compared to January of 2019: to Cambodia – increased by 173.4 per cent, reaching 4.77 million USD; to Pakistan - increased by 103 per cent, reaching 1.65 million USD; to Czech - increased by 42.3 per cent, reaching 0.43 million USD; to Romania - increased by 54.4 per cent, reaching 0.94 million USD.

Aquaculture output in January of 2020
Regarding aquaculture in January, it was estimated at 259,900 tons, up by 2.9 per cent compared to January of 2019, of which fish output reached 194,400 tons, up by 1.6 per cent; shrimp - reached 36,700 tons, up by 8.3 per cent; pangasius production in January 2020 was estimated at 85,000 tons, down by 0.9 per cent compared to January of 2019. In January, shrimp farmers focused on harvesting to meet Tet demand. The shrimp production was quite good, the estimated black tiger shrimp production was 12,800 tons, up by 5.8 per cent; white leg shrimp - reached 21,700 tons, up by 9.6 per cent.
Fishing production is estimated at 242,400 tons, up 0.5% compared to January 2019. Of which, fish reached 185,500 tons, an increase of 1%; 10,500 tons of shrimp, down 0.9%; other aquatic products 46,400 tons, down 1.1%. Particularly, the production of exploited sea fishing was estimated at 229,400 tons, up by 0.6 per cent, of which fish production reached 176,900 tons, up by 1.1 per cent; and shrimp production reached 9,500 tons, down by 1 per cent.

The estimate of influence of Covid-19 on aquatic product exports
VASEP stated that, although the situation of Covid-19 epidemic has not affected the results of Vietnam's seafood export in January of 2020, but from February, 2020, the production, business and import-export activities of seafood may have some negative impacts at least until the first half of 2020. The exports to China will be affected, and so will be the exports to the other markets.
A representative of VASEP said that the exports through border gates now account for 20 per cent of the total seafood export turnover to the Chinese market, so the closure of the border gates due to the Covid-19 epidemic could reduce at least 20 per cent of aquatic exports of Vietnam to China in the first 3 months of the year.
The demand for seafood decreased due to the close of several food retail chains, culinary restaurants; the trade and exchange activities between Vietnam and China were interrupted due to the reversed transport system; orders were delayed or no new contracts can be signed; the domestic production stagnated because factories lacked of workers. So not only trading activities through unofficial trade but also activities through official channels to China are facing many difficulties.

A significant number of exporting enterprises to China will be affected, which will surely reduce export turnover of seafood in general. VASEP forecasts that, in the best case, that the Covid-19 epidemic will end in the first quarter of 2020, the seafood export to China in the first quarter of 2020 will be reduced by at least 40 per cent compared to the previous quarter, reaching around 265 million USD, but still up by 10 per cent over the same period last year. The seafood exports in the next quarters will recover compared to the first quarter and the export production reels will operate normally in the second half of the year, forecasting the whole year exports of seafood to China may reach 1.5 billion USD, a slight increase of 5 per cent compared to 2019. With this result, the total seafood export turnover of Vietnam in 2020 can still maintain the growth of 8 per cent compared to 2019, reaching 9.25 billion USD.

In the worse situation, if the Covid-19 epidemic lasts longer, the consequences will be greater, the seafood production and exports may be more seriously affected and stalled, possibly up to August. At that time, the exports to China in first half of the year will fall by 30 per cent to 400 million USD, and it will increase 10 per cent to reach 930 million USD. Total seafood exports to China for the whole year will reach about 1.33 billion USD, down by 6 per cent. In a worse scenario, the exports to China decreased, exports to other markets were also affected, Vietnam's total seafood export in 2020 will only increase by 3-4 per cent, reaching 8.9 billion USD.

Vietnam’s imports of seafood decreased in January
According to the preliminary statistics figures of the General Department of Customs, Vietnam’s seafood imports in January of 2020 decreased sharply by 34.5 per cent compared to December of 2019 and also decreased by 24.7 per cent compared to January of 2019 to 117.78 million USD.
The major markets supplying seafood to Vietnam include: Norway, India, Indonesia and China; in which, the imports from India reached 20.52 million USD, accounting for 17.4 per cent of the country's total seafood import turnover, down by 8.9 per cent compared to December of 2019, but still increased by 15.5 per cent compared with January of 2019.

The imports of seafood from Norway dropped sharply by 35.3 per cent compared to December of 2019 and decreased by 26 per cent compared to January of 2019, reaching 14.71 million USD, accounting for 12.5 per cent of the total seafood imports of the whole country.
Meanwhile, the imports from Indonesia also dropped sharply by 42.2 per ent compared to December of 2019 and by 10 per cent compared to January of 2019, reaching 12.55 million USD, accounting for 10.7 per cent of the total. The imports from China also decreased by 38.6 per cent and 29.5 per cent respectively, reaching 10.75 million USD, accounting for 9.1 per cent of the total.

In the first month of 2020, only 4 seafood import markets saw increase in value compared to January of 2019, of which, besides the above-mentioned Indian market, there was also the Danish market increased by 36.3 per cent, reaching 2, 67 million USD; Japan - increased by 3.9 per cent to 9.69 million USD; Thailand - increased by 2.3 per cent, reaching 1.63 million USD; the rest of all other markets saw decrease in value compared to January of 2019; in which, the markets saw a sharp drop included: Singapore – down by 95.4 per cent, reaching 0.04 million USD; Britain - decreased by 70.6 per cent, reaching 0.9 million USD; Russia - decreased by 61.6 per cent, reaching 3.86 million USD; South Korea - decreased by 56.9 per cent, reaching 3.04 million USD.
Source: VITIC


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