ASEAN is the fourth largest seafood export market for Vietnam
The country's seafood exports to ASEAN reached $49.5 million in January 2023, down 14.57% compared to the same period last year, according to the Ministry of Industry and Trade.
However, the proportion of seafood exports to ASEAN accounted for 10.4% of Vietnam's total seafood export turnover in the month, up from 7.13% in the same period last year.
In terms of markets, Vietnam's seafood exports to ASEAN member countries, including the Philippines, Indonesia, and Brunei, all recorded strong growth compared to the same period last year. Specifically, seafood exports to the Philippines increased by 57.85%, followed by Indonesia with 7.88%.
In contrast, seafood exports to Malaysia saw the largest decrease at -39.31%, followed by Singapore (-25.3%), Thailand (-22.37%), and Cambodia (-14.57%).
Thailand remains the largest seafood export market for Vietnam in ASEAN, with $22.6 million, down 22.37% compared to January 2022. The Philippines is the second largest seafood export market, with $11.8 million, an increase of 57.85% compared to the same period in 2022.
According to the General Department of Customs, fish and seafood products are a major source of protein for ASEAN consumers, with an average consumption rate of 39.4 kg/person/year in 2017, nearly double the global average of 20.3 kg/person/year (FAO, 2020).
Vietnam's seafood industry is expected to have growth potential in ASEAN markets in the coming years, as the demand for seafood consumption in the region is forecasted to continue to increase to 51.5 kg/person/year by 2030 and reach 61.5 kg/person/year by 2050.
Source: Mekong ASEAN