AsemconnectVietnam - According to the General Department of Customs, it is estimated that Vietnam’s seafood exports in the first quarter of 2023 reached about 1.85 billion USD, down by 27% compared to the first quarter of 2022.

According to the statistics figures of the General Department of Customs, by mid-March 2023, Vietnam's seafood exports reached 1.4 billion USD, down by 28% over the same period last year. It is estimated that seafood exports in the first quarter of 2023 reached about 1.85 billion USD, down by 27% compared to the first quarter of 2022.
Particularly in March of 2023, seafood exports were estimated at 780 million USD. The exports of key commodities still decreased by 8-39% compared with the same month of 2022. In which, shrimp exports decreased by 39%, pangasius decreased by 23%, tuna decreased by 33%, squid and octopus decreased by 8%. However, exports of other marine fish species still grew by 11% year-on-year.
By the end of the first quarter of 2023, Vietnam’s shrimp exports brought in USD 577 million, down 40%, pangasius reached 447 million USD, 32% lower than the same period and tuna decreased by 31% to 179 million USD. The exports of squid and octopus were also 8% lower than the same period last year, reaching 54 million USD. Particularly, the exports of marine fish species still increased slightly by 3% to 435 million USD.
According to the Vietnam Association of Seafood Exporters and Producers, the world market is still heavily affected by inflation and economic slowdown, which reduces consumption and import demand and also reduces import prices.
It is forecasted that seafood exports will gradually recover from the second quarter after international fairs in the US and EU attract more customers.
The Vietnam Association of Seafood Exporters and Producers also said that in the first half of 2023, shrimp exports will recover slowly because of fierce competition with India, Ecuador and Indonesia. Pangasius exports will be better in the context of inflation and economic decline in many markets and have more great opportunities after China fully reopens after Covid.
The exports of marine fishes continued to increase, in which there was a growing contribution of processed, exported and manufactured goods made from imported raw materials such as salmon, cod, and pollock. In countries in the world, there is a tendency to increase the consumption of traditional products for Asian consumers. Therefore, the exports of dry goods (fish, shrimp, squid), fish sauce, fish cakes, canned goods may increase.
China will become the largest import market, but the competitive pressure is great because exporters and traders from other countries also focus on this market after the opening.
The exports to the EU, US, Japan and South Korea markets are difficult to break through because inflation causes consumers to tighten their spending and the average import price decreases compared to the previous year.
From the reality of market fluctuations, seafood enterprises have made reasonable adjustments to export products. For example, with China, in addition to frozen products, businesses should take advantage of their close geographical location to increase exports of shrimp and fresh/live seafood to the restaurant, hotel, and tourism segments.
With other major markets such as the US and EU, businesses are more interested in the trend of importing goods for Asian supermarkets, which means that traditional Asian product lines, such as dry goods, water. fish sauce, fish sauce, are still attracting customers.
In recent years, the Ministry of Industry and Trade, the Ministry of Agriculture and Rural Development and the Ministry of Foreign Affairs have actively promoted many trade promotion programs, conferences and forums to connect trade with a number of markets. Seafood enterprises wish to continue participating in such trade programs with markets, especially key markets to find partners and promote exports.
In addition, in the difficult market context in 2023, enterprises are looking forward to the management agencies to help solve the immediate difficulties and inadequacies for businesses to stabilize the source of raw materials and promote exports, especially the policy and implementation of preferential interest rates for farmers, fishermen and seafood processing enterprises.
CK
Source: VITIC/congthuong.vn