World: The highlight of the global seafood industry in 2023 is weak demand, stagnant production, and reduced trade in both volume and value throughout 6M-2023. Total global seafood production in 2023 is estimated to reach 185.4 million tons, a slight increase of 0.6% over the same period. Of which, aquaculture output increased by 2.8%, and exploitation output decreased by 1.7%.
Vietnam: High inflation, falling demand, large inventories, falling export prices, and difficulties and inadequacies in domestic production and business cause Vietnam's seafood exports to only reach $8.97 billion, down 17.8% over the same period last year.
Among them, exports of major aquatic products all decreased, with pangasius still having the deepest decline. And demand for seafood in most markets decreased over the same period. Seafood exports to the US and EU decreased the most. Asian markets fell less. Exports to some markets in the Middle East and South America have grown but the proportion is quite small, so it is difficult to offset the decline from major markets.
OUTLOOK: Vietnam's seafood exports in the first half of 2024 are forecast to only recover slightly compared to the low base of the same period in 2023 due to unsustainable seafood consumption demand, but may be more positive in the second half of 2024.
TABLE OF CONTENTS
A. GENERAL PERCEPTION
B. OVERVIEW OF THE WORLD SEAFOOD INDUSTRY
- Overview of global seafood supply & trade 2023
- Seafood import demand in some countries
C. OVERVIEW OF VIETNAM SEAFOOD INDUSTRY
The situation of domestic seafood supply 2019 – 2023
Price movements of raw fish/shrimp in the country in 2023
Supply of imported seafood 2019 – 2023
Trade balance of the whole industry 2019 – 2023
Export situation in the period 2019 – 2023
- Structure of export products
- Export market structure
- Evolution of major export markets
Top seafood export enterprises 2023
Evolution of the export situation of some seafood exporting enterprises
D. SHRIMP INDUSTRY DETAILS
E. PANGASIUS INDUSTRY DETAILS
[VI] SEAFOOD INDUSTRY REPORT 2023 & 2024 OUTLOOK
Number of pages: 35 pages
Data series: Last 13 months
Release date: Jan 20, 2024