Han Media: 1.1 billion dollars, China has surpassed the United States as the largest consumer of Vietnamese seafood!

On August 26, the South Korean media "Herald Economic" published an article stating that in the first half of this year, China has overtaken the United States to become the largest importer of Vietnamese seafood.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the preliminary export value of Vietnamese seafood in the first half of this year reached 4.4 billion dollars, an increase of nearly 7% compared to the same period last year, but still below the peak level in 2022.

Looking at the markets, the export value to China increased by nearly 45%, reaching 1.1 billion dollars, for the first time surpassing the United States to become the largest consumer of Vietnamese seafood.

At the same time, exports to the United States only increased by 18%, reaching about 905 million dollars. Among them, exports in May increased by 61% compared to the previous month, reaching 195 million dollars, which was the highest level of the year. This was interpreted as a result of Vietnamese companies taking advance shipping measures due to the uncertainty of reciprocal tariffs.

Afterward, exports in June dropped sharply, decreasing by 18% year-on-year. By product, shrimp exports fell by 36%, and tuna exports fell by more than 40%.

In response, the association explained, "due to concerns about tariffs, many American importers have reduced their purchasing volumes or placed orders on a monthly basis, showing a cautious attitude."

The association believes that unlike the United States, despite the strengthening of domestic quality standards, the Chinese market provides positive conditions for enterprises to develop production plans and sign long-term contracts, due to the stable trade environment and policies between the two countries.

The association predicts: "As Vietnamese enterprises actively respond to changes in tariff policies, technical standards, and origin tracking requirements, the trend of cross-market order flows is expected to continue in the second half of the year. The industry will focus on further expanding the Chinese market and the markets of CPTPP member states, while maintaining its market share in the United States through environmentally friendly and sustainable production models, and increasing added value through deep processing."

Original: www.toutiao.com/article/1841503953769483/

Statement: This article represents the views of the author.