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Seafood exports in February increased by 4%

After falling deeply in January, seafood exports in February increased slightly compared to last year's period.

Source: Internet

According to VASEP, after a sharp decline in January, entering the first half of February 2023, seafood exports increased by 42% over the same period. It is estimated that the total seafood export value in February reached about USD662 million, a slight increase of 4% compared to the same period in 2022.

The export trend in February 2023 showed more positive signs than the previous month, but compared to the same period with a modest increase of 4%, did not reflect the recovery trend, because in 2022 the Lunar New Year takes place in early February.

Accumulated in the first two months of the year, seafood exports reached over $1.1 billion, down 26% over the same period in 2022. In which, pangasius still fell by 38% to $240 million, shrimp decreased by 37% to $350 million, and tuna decreased by 27% to $113 million. Exports of squid, octopus and marine fish tend to be more positive with a growth of 6% each, reaching $103 million and $273 million, respectively.

After opening, exports to China began to show positive signals. In February, the value of seafood exports to this market increased by 33% to $122 million. Accumulated in the first 2 months of the year, exports to China reached US$158 million, down 7% over the same period.

The US and EU markets still have not shown signs of recovery in February, so exports still fell by 35% and 8% respectively over the same period in 2022. By the end of February 2023, seafood exports to the US reached US$164 million, down 53%, and to the EU decreased by 32% to US$123 million.

Seafood exports to Korea, CPTPP countries and some other markets also tend to be more positive. South Korea alone increased by 26% in importing Vietnamese seafood in February, while the CPTPP bloc increased by 14%. However, due to a sharp decrease in January, the results for the first 2 months of the year to these markets were still lower than in the same period.

The demand of the markets is tending to gradually recover, especially the Chinese market and many other small markets. The source of aquatic materials (shrimp, pangasius) will also increase in the next month, so exports in March and April will increase gradually compared to the first months of the year.

(HQ Online)


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