Vietnam's seafood exports in September continued to improve as exports to the US increased for the second consecutive month, while the decline in exports to China, Japan and Korea Republic slowed down compared to the previous month.

According to a report from the Import-Export Department (Ministry of Industry and Trade), in September, Vietnam's seafood exports to the US market reached USD 150 million, an increase of 5% over the same period in 2022. This is the second consecutive month that export turnover to this market gained positive growth over the same period.

Overall, in the first 9 months, Vietnam's seafood exports to the US reached USD 1.2 billion, a decrease of 34% compared to the same period in 2022.

According to the Import-Export Department, seafood exports to the US are recovering as consumer demand in this market increases at the end of the year, especially for shrimp products. This trend will likely continue in the last months of 2023.

In addition, the positive results assessed by the inspection team of the US Food Safety and Inspection Service (FSIS) regarding food hygiene and safety control system for Vietnamese pangasius exported to the US are also the basis for growth of pangasius exports to this market.

Behind the US, the markets of China, Japan, and Korea Republic are also gradually improving in the last months of the year.

Positive signals from markets have helped seafood export turnover in September continue to recover, ending a series of declines compared to the same period last year for 8 consecutive months.

Vietnam's seafood exports in September reached USD 814 million, a decrease of 5% over the same period in 2022, the lowest decrease since March. Accumulated over the first nine months of 2023, Vietnam's seafood exports reached USD 6.6 billion, a decrease of 22% compared to the same period in 2022.

Vietnam Association of Seafood Exporters and Producers believes that the market is showing signs of improvement, especially in the fourth quarter. It is expected that seafood exports in 2023 will reach about USD 9.2 - 9.3 billion, decreased from USD 11 billion last year.

Kylie Nguyen