Pangasius shipments to mainland China, Hong Kong rebound from 6-month fall

Pangasius exports to mainland China and Hong Kong reached $56 million in September, up 15% over the same period in 2022, cutting off the decline since March, according to the Association of Seafood Exporters and Producers (VASEP).

In China alone in September, the value of Vietnamese pangasius imports reached $53 million, an increase of 16% year-on-year.

Exports of pangasius to mainland China and Hong Kong totaled $153 million in the third quarter, an increase of 7% and 11% from the second and first quarters, respectively.

In the third quarter of 2023, the export value of Vietnamese pangasius to mainland China compared to preceding quarters this year rose 7% and 11%, respectively. In the context of world fluctuations, inflation, and conflict.

From 2020 until now, mainland China and Hong Kong have been the number one consumers of Vietnamese pangasius, and have maintained the highest growth.

In the first nine months of 2023, China's economy grew by 5.2% over the same period last year. Consumer spending has also been positive. Retail sales increased in September 5.5% year-on-year, marking the fastest growth rate in the past four months.

According to VASEP, positive economic indicators from the Chinese market signal a recovery for Vietnamese pangasius exports to the world's second largest economy.

Vietnam's September seafood exports were estimated at $862 million, the same as last year. In the first three quarters of 2023, seafood exports totaled over $6.6 billion, down 22% year-on-year, according to VASEP.