The US is reducing imports, China massively bought a large amount of Vietnamese shrimp and fish in September. This is also the reason why China surpassed the US to become the largest customer of Vietnamese seafood exports in the past month.
According to statistics from the General Department of Customs, in September 2022, Vietnam’s seafood export turnover reached nearly 862.9 million USD, down 13.7% compared to August 2022, but up 38.2% over the same period in 2021. Most markets recorded 2-3-digit growth.
In September, China spent about 146.3 million USD to buy all kinds of Vietnamese shrimp and fish, up 117.6 % over the same period last year and became the largest customer of Vietnamese seafood exports this month. Exports to the Japanese market reached 142 million USD, an increase of over 90% over the same period.
Contrary to the above two markets, seafood exports to the US in September decreased by 9.6%, reaching only 142.8 million USD. With this number, the US drops to become the second largest customer, after China.
In September, seafood exports to China increased by 117% over the same period (Photo: Hoang Ha).
By the end of September this year, the country’s seafood exports reached 8.49 billion USD, up 37.3% over the same period in 2021.
Although the export of shrimp and fish to the US market has slowed down and decreased in recent months, in the first nine months of 2022, the US is still the largest customer, spending about 1.77 billion USD to buy Vietnamese shrimp and fish, an increase of 21. 7% over the same period.
Following is Japan with an export turnover of nearly 1.27 billion USD, up 32.8%. The Chinese market ranked third, reaching 1.21 billion USD, up 85%.
Experts said that in the last 3 months of 2022, seafood exports are likely to continue to maintain a growth rate of over 15% over the same period in 2021 when exporting to China, Japan, and Korea… compensate for the decrease in exports to the US market.
According to Mr. Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Producers, the export industry has recorded many positive signals. Entering September, the supply of raw materials did not suffer major fluctuations due to the positive impact of the falling gasoline price. Demand rebounded as importers solved inventory problems.
He expects that by the end of this year, the Chinese market will reopen after the Zero-Covid policy. At that time, exports will stabilize and develop well in 2023.
@ Vietnamnet
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Source: Vietnam Insider