Vietnam’s pangasius exports may only reach 1.8 billion USD in 2023

As of November 15, 2023, Vietnam pangasius export turnover reached 1.6 billion USD, down nearly 28% compared to the same period in 2022.

In 2023, Vietnam’s pangasius import markets all tended to decrease. Of which, China decreased by nearly 22%, the US decreased by over 53%, and the EU decreased by over 17%. Although markets like Germany, England, Brazil, and Saudi Arabia grew positively over the same period in 2022, they only accounted for a small proportion.

It is estimated that in 2023, the country’s pangasius farming area reached about 5,700 ha, with pangasius output of 1.6 million tons, and pangasius export turnover reached 1.8 billion USD, equivalent to 75% of the same period in 2022.

The decline in the pangasius industry in 2023 is due to political instability and global inflation, resulting in decreased demand for seafood products, export activities facing difficulties, and high inventories.

Vietnam pangasius products are still monotonous and value-added products account for a small proportion, so there is little competition and low commercial value.

(Source: https://seafood.vasep.com.vn/)