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Vietnam's seafood exports to the EU increased by 12.7% in the first 7 months of 2024 

 Thursday, September 5,2024

AsemconnectVietnam - According to the route of the Vietnam-EU Free Trade Agreement (EVFTA), the EU market is increasingly applying higher standards on the environment and sustainable development, collectively known as "green standards".

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.
Vietnam's seafood export market to the EU in the first 7 months of 2024
(According to data published on August 10, 2024 of the TCHQ)
 
July 2024
7 months of 2024
Market
Value
USD
Month on month
(%)
Year on year
 
(%)
Value
USD
Year on year
(%)
Market share (%)
Total Export
99,695,923
-2.54
15.2
12.7
100
Netherlands
17,457,104
-19.28
4.37
114,700,193
8.61
18.66
Germany
15,408,154
-4.78
-13.57
109,674,086
6.54
17.84
Belgium
13,673,657
-17.49
24.42
79,590,945
14.21
12.94
Italy
10,196,393
-8.8
25.58
59,402,033
29.48
9.66
Spain
8,079,852
33.58
39.27
42,055,910
21.07
6.84
Denmark
3,834,581
-34.78
-5.72
30,727,235
25.29
5.00
France
5,280,096
-7.81
12.39
30,087,841
-19.67
4.89
Poland
4,088,756
11.11
12.73
24,813,545
-1.31
4.04
Lithuania
4,465,092
19.52
69.93
23,771,254
31.25
3.87
Egypt
5,335,741
16.01
58.95
21,403,730
4.31
3.48
Romania
4,001,322
58.91
100.55
18,892,946
25.79
3.07
Portugal
2,622,318
-3
-1.13
17,234,260
-12.1
2.80
Sweden
1,983,124
-20.66
-18.98
13,772,721
24
2.24
Greece
413,948
-61.83
-44.92
5,318,704
6.86
0.87
Ireland
1,056,118
57.34
-
4,452,304
137.81
0.72
Cyprus
190,640
375.46
-21.32
4,249,309
11.32
0.69
Lev
704,596
80.48
24.34
3,302,484
91.45
0.54
Slovenia
323,963
-
-70.16
2,660,806
-16.23
0.43
Hungary
160,865
-76.46
-
2,302,808
77.44
0.37
Latvia
180,719
-7.09
-
2,212,181
-4.5
0.36
Finland
35,108
-81.19
-
2,201,266
-72.88
0.36
Cheque
52,432
-
-64.12
1,401,009
-14.56
0.23
Croatia
103,594
-59.95
-75.01
103,594
-96.83
0.02
Malta
47,750
-36.09
-100
509,481
-32
0.08
Source: Calculated from data of the General Department of Vietnam Customs
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

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