Wednesday, April 8,2020 - 5:40 GMT+7  Việt Nam EngLish 

Imports of seafood increased again in February 2020 

 Thursday, March 26,2020

AsemconnectVietnam - According to the preliminary statistics of the General Department of Customs, after falling sharply by 34.5% in January 2020, seafood products imported to Vietnam in February of 2020 increased by 14,9% compared to January 2020 and also increased by 25.9% compared to February 2019 to reach 135.33 million USD.

Generally, in the first 2 months of 2020, imports of seafood reached US$253.89 million, down 3.9% over the same period in 2019, accounting for 0.7% of the total turnover.
In the first 2 months, India has become the leading supplier of seafood to Vietnam, accounting for 15.6% of the total import turnover, reaching 39.64 million USD, up 38.3% compared to the same period in 2019. In February 2020 alone import from India reached US$18.9 million, down 7.9% compared to January 2020 but up sharply 73.6% compared to February 2019.
The second largest market was Norway, accounting for 12% of the total turnover, reaching 30.46 million USD, down 10.1% compared to the same period in 2019; of which in February 2020 alone reached US$15.54 million, up 5.6% compared to January 2020 and up 10.8% compared to February 2019.
Imports from Indonesia in February 2020 increased by 12.4% compared to January 2020 and increased sharply by 118.9% compared to February 2019, reaching US$14.11 million; bringing the total import turnover in the first 2 months to nearly US$27.14 million, accounting for 10.7% of the total import turnover, up 33.1% over the same period last year.
Imports from Japan in February 2020 also increased sharply by 41.9% compared to January 2020 and by 13.1% compared to February 2019, reaching US$13.75 million; bringing the total import turnover in the first 2 months to US$ 23.48 million, accounting for 9.3% of the total import turnover, up 8.5% over the same period in 2019.
In the first 2 months of this year, there were several markets that have increased sharply over the same period in 2019: Import from Malaysia, up 144.1% to US$1.83 million; from Poland increased by 38.7%, reaching 0.91 million USD; Canada increased by 37.3% to 4.9 million USD; Myanmar increased by 33.4% to US$0.69 million.
 In contrast, imports dropped sharply from the following markets: Singapore decreased by 94.5% reaching US$0.08 million; South Korea decreased by 52.5% reaching 6.88 million USD; England  fell 43.4% reaching 2.45 million USD.
Domestic seafood enterprises have proposed many financial solutions to help them overcome difficulties in production and business during the novel coronavirus (COVID-19) pandemic, according to the Việt Nam Association of Fisheries (VASEP).
At present, many seafood enterprises need loans from banks while the banking loans have high interest rates. The annual interest rate of medium- and long-term loans is 7 per cent at large commercial banks and 10.5 per cent at small commercial banks. In addition, the interest rate is from 6-8.5 per cent for Vietnamese đồng loans and from 4-4.5 per cent for US dollar loans.
The businesses have suggested exempting or reducing fees for financial services and business activities, including free services during transactions at banks and fee reductions for services relating to import and export activities.
Vietnam’s imports of seafood in the first two months of 2020- source: VITIC – according to the figures of the General Department of Customs.
 
Market
February 2020
( USD)
+/- vs. January of 2020 (%)
First 2 months of 2020
( USD)
+/- vs. same period of 2019 (%)
Market share (%)
Total
135,325,654
14.89
253,891,454
-3.88
100
India
18,904,233
-7.87
39,635,060
38.34
15.61
Norway
15,535,973
5.62
30,464,138
-10.14
12
Indonesia
14,106,087
12.42
27,136,405
33.1
10.69
Japan
13,748,359
41.9
23,477,669
8.45
9.25
Taiwan (China)
11,712,128
42.94
19,842,039
29.63
7.82
Chinese mainland
5,729,387
-46,71
16,342,057
-21.93
6.44
Russia
9,426,840
144.44
13,283,389
-21.14
5.23
The U.S
4,727,275
-24.44
10,950,685
3.32
4.31
EU
4,153,065
-3.39
8,451,987
-5.31
3.33
Chile
5,525,831
90.45
8,427,247
-17
3.32
South Korea
3,838,027
26.11
6,881,510
-52.54
2.71
Canada
2,979,666
55.14
4,900,270
37.27
1.93
Denmark
2,149,173
-19.65
4,823,958
22.3
1.9
Thailand
1,829,916
12.26
3,460,068
-14.35
1.36
England
1,542,555
70.68
2,446,335
-43.42
0.96
Malaysia
1,314,848
156.2
1,828,829
144.08
0.72
Poland
387,118
-26.26
912,079
38.66
0.36
Philippines
610,341
199.28
876,026
-28.21
0.35
Myanmar
189,774
-61,7
685,330
33.43
0.27
Ireland
74,219
-62.02
269,615
0.11
Singapore
34,954
-20.07
78,685
-94.47
0.03
 T.Huong
Source: Vitic/Vinanet.vn

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