Vietnam pangasius exports totaled USD 1.62 billion

As of November 2017, Vietnam pangasius exports valued at US$1.62 billion, up 5.3% over the same period last year. In particular, the export value to the U.S and the EU recorded the falls while that to China - Hong Kong and other potential markets such as Brazil, Mexico and Saudi Arabia inched up.

China - Hong Kong

In the first 11 months of 2017, Vietnam’s pangasius exports to China - Hong Kong reached US$373.3 million, up 37.9% over the same period in 2016, accounting for nearly 23% of Vietnam’s total pangasius exports to markets. This market kept being the largest buyer of Vietnamese enterprises this year despite the slow growth in the last 3 months.

In fact, China is both a huge seafood exporter but also a big buyer in the world. Moreover, Chinese customers buy a wide range of products with many segments in the market. With the advantage of having the same border, Vietnam can transport seafood products both on land and by sea in short time to China, which is advantageous for export activities of enterprises.

The U.S

Vietnam’s pangasius exports to the U.S in 2017 declined for many months due to technical barriers to trade, thus the market dropped from the first rank. Through November 2017, the export value to the U.S market reached US$319.7 million, down 9.7% over the same period last year.

In recent years, the anti-dumping duties on administrative reviews are high. Currently, the duty in the preliminary result of the 13th administrative review was three times higher than the results of the 12th administrative review and even equal to the national tax rate, causing the number of exporters to enter this market is decreasing. There are 62 companies registering to export pangasius to the U.S market, but in fact there are less than 10 enterprises exporting to the market and 3 enterprises has the considerable export volume.

Brazil, Mexico, Saudi Arabia

In the first 11 months of 2017, Vietnam’s pangasius exports has not fallen too sharply thanks to a flexible shift and boosting exports to some potential markets such as Brazil, Mexico and Saudi Arabia. During this period, the export value to the 3 markets reached US$93.8 million; US$93.2 million and US$50.2 million, an increase of 69.2%; 21.9% and 7.1% respectively over the same period in 2016.

In November 2017, the export value to these three markets increased sharply from 10.6% to 78.5% over the same period of 2016.