Vietnam's Seafood Exports in the First 9 Months of 2023

According to the Association of Seafood Exporters and Producers (VASEP), Vietnam's seafood exports in September 2023 continued to decrease. As a result, the cumulative seafood export turnover for the first 9 months of the year also decreased by 23%, reaching $6.6 billion USD.

In September 2023, several key aquatic products showed signs of recovery compared to the same period last year. Notably, shrimp and tuna exports both reached the same levels as in September 2022. Pangasius products, in particular, exhibited positive growth, with a 9% increase.

Table 1. Vietnam's Seafood Exports Turnover May 9, 2023

Source: VASEP

In the first 9 months of 2023, among Vietnam's major seafood export markets, the United States holds the top position with a total seafood export turnover of 1.2 billion USD. It is followed closely by China and Hong Kong, both at 1.1 billion USD. Japan also stands at 1.1 billion USD, while the European Union recorded 715 million USD in seafood exports, and South Korea reached 568 million USD.

 Table 2. Top 5 seafood export markets of Vietnam May 9, 2023

Source: VASEP

Regarding the turnover and export markets for Vietnam's shrimp, pangasius, and tuna products in the first 9 months of 2023, the information is as follows:

Shrimp: As of the end of September 2023, shrimp exports reached nearly 2.6 billion USD. Notably, there was positive growth in exports to the United States and China over the past two months. Moreover, key markets within the CPTPP bloc, including Japan, Australia, and Canada, have been increasing their imports of shrimp from Vietnam.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's shrimp exports in September of this year showed positive signs in markets like the United States, Australia, Canada, Belgium, and Taiwan, with growth rates ranging from 1% to 54%. Although other major markets, such as the European Union, Japan, and South Korea, still experienced negative growth ranging from 10% to 26%, the rate of decline was lower than in previous months. As for the Chinese and Hong Kong markets, after enjoying positive growth in the three months of June, July, and August, shrimp exports to these markets resumed a downward trend.

Regarding specific shrimp products, by September of this year, the export value of whiteleg shrimp (constituting 74% of the total) reached 1.9 billion USD, which was a 26% decrease. Exports of black tiger shrimp reached 356 million USD (accounting for 14%), marking a 23% decrease. The remaining export value was attributed to other types of shrimp at 298 million USD, which saw a decline of 28%. Notably, exports of other canned shrimp and other dried shrimp increased positively by 20% and 57%, respectively.

In September 2023, Vietnamese shrimp exports to China and Hong Kong decreased by 13%, amounting to 61 million USD. This decline follows a trend of consecutive positive growth in the three preceding months: June, July, and August. Cumulatively for the first 9 months of the year, shrimp exports to this market reached 454 million USD, which represents a 6% decrease.

Pangasius: In September 2023, Vietnam's pangasius exports recorded positive growth for the first time since the beginning of this year, with a value of nearly 167 million USD, an increase of 1% over the same period last year. Cumulative exports of Vietnamese pangasius in the first 9 months of this year reached nearly 1.4 billion USD, down 31% over the same period last year.

Table 3. Vietnam's pangasius exports January-September 2023

Source: VASEP

The structure of exported pangasius products from January to September 2023 is as follows:

Table 4. Structure of exported pangasius products January-September 2023

Unit: million USD

Source: VASEP

Pangasius exports in the first 9 months of 2023 to most major markets and trading blocs witnessed a decline when compared to the same period in 2022. Specifically, exports to the following regions saw a decrease:

• Exports to the China and Hong Kong markets decreased by 26%.
• Exports to the United States decreased by 54%.
• Exports to Brazil decreased by 0.4%.
• Exports to the CPTPP countries decreased by 31%.
• Exports to the United Kingdom decreased by 1%.
• Exports to Mexico decreased by 41%.

Table 5. Vietnam's pangasius export markets May 9, 2023

Source: VASEP

Tuna: In September 2023, Vietnam's tuna exports amounted to 72 million USD, marking an 8% decrease compared to the same period in 2022 and an 18% decrease from the previous month.

Table 6. Vietnam's tuna exports January-September 2023

Source: VASEP

Regarding product categories, Vietnam's exports of frozen tuna meat/loin under HS code 0304 continued to decline in September. As a result, the cumulative total for the first 9 months of 2023 witnessed a 41% decrease, reaching 315 million USD. Similarly, Vietnam's canned tuna exports also saw a further 15% decrease this month compared to the same period last year. This led to a slight 0.2% decrease in the total export value of this product group for the first 9 months of the year.

Conversely, exports of other processed tuna products, mainly frozen steamed tuna meat/loin, exhibited a notable increase in September, with a 97% growth rate. This increase boosted the total export value of this product category for the first 9 months of 2023 to over 107 million USD, representing a 29% increase over the same period.

In terms of markets, tuna exports to some major markets showed signs of recovery in September after a period of decline. For instance, exports to Canada and Russia increased by 44% and 124%, respectively. However, exports to traditional markets reversed their trends and decreased, as seen with the European Union (EU) and Israel.

In the U.S. market, tuna exports did not maintain their growth momentum in August, with a slight 1% decrease in the value of tuna exports in September. Over the first 9 months of 2023, fish export turnover to the U.S. market also decreased by 1%. Tuna exports to the U.S. market still remained at a decrease of more than 41% compared to the same period the previous year.

Table 7. Top 6 tuna export markets of Vietnam from January to September 2023

Source: VASEP

Truong Thi Quynh Van

Department of Information and Trade Promotion - VIOIT