Vietnamese products, including seafood products, are striving to improve quality to conquer the EU market.

Seafood exports are an important sector of economic activity in Vietnam due to its rapid growth and significant contribution to the national economy. After the Vietnam-European Union Free Trade Agreement (EVFTA) came into effect, Vietnamese seafood exporters have taken advantage of opportunities to boost exports to the EU market.

According to the General Department of Customs, Vietnam's seafood export to the EU in July 2024 reached 99.7 million USD, down 2.5% compared to June 2024 and up 15.2% compared to July 2023. Generally, in the first 7 months of 2024, Vietnam's seafood export to the EU reached 614.8 million USD, up 12.7% over the same period in 2023. Thus, Vietnam's seafood export turnover to the EU accounts for 11.5% of the total seafood export turnover.

The Netherlands is still a major seafood import market for Vietnam, with a value of 17.4 million USD in July 2024, down 19.2% compared to June 2024. Generally, in the first 7 months of the year, exports to the Netherlands reached 114.7 million USD, up 8.6% over the same period in 2023, accounting for 18.6% of the total seafood export turnover to the EU market.

The German market was in second place  with an export value in July 2024 reaching 15.4 million USD, down 4.7% compared to June 2024. Generally, in the first 7 months of the year, Vietnam's exports to Germany reached 109.6 million USD of seafood products, up 6.5% over the same period in 2023, equivalent to a proportion of 17.8% of Vietnam's total seafood export turnover to the EU.

In third place is the Belgian market with a value of 13.6 million USD in July 2024, down 17.4% compared to June 2024. Generally, in the first 7 months of the year, Vietnam's seafood exports to Belgium reached 79.5 million USD, up 14.2% over the same period in 2023, accounting for 12.9% of Vietnam's total seafood export turnover to the EU.

Notably, some markets have high export growth in the first 7 months of 2024 such as: Ireland increased by 137.8%; Italy increased by 29.4%; Denmark increased by 25.2%; Sweden increased by 24%; exports to Bulgaria, although the turnover reached more than 3.3 million USD, increased by 91.4% over the same period last year.

Some markets with export turnover decreased in the first 7 months of 2024 compared to the same period last year: exports to the French market decreased by 19.6%; exports to Portugal decreased by 12.1%; exports to Finland decreased by 72.8%; some markets with small export turnover such as the Czech Republic, Croatia and Malta decreased by 14.5%; 96.8% and 32%, respectively.

In terms of product types, Vietnam's seafood exports to the EU are mainly shrimp and catfish... Leading the group of seafood products exported from Vietnam to the EU in the first 7 months of 2024 is shrimp (HS code 030617) with a turnover of 146.5 million USD, up 9.3% compared to the first 7 months of 2023, accounting for 23.8% of the total seafood export turnover. In July 2024 alone, Belgium was the leading market for Vietnam's shrimp export turnover in the EU, followed by Germany and the Netherlands, accounting for 25.8%, 21.4% and 20.1% respectively.

 

 T.Huong

Source: Vitic