Regarding the main types of seafood in the Singapore market, the demand is relatively even for 4 groups: fresh/chilled fish excluding fish fillets and fish meat (0302); frozen fish excluding fish fillets and fish meat (0303); chilled/frozen fish fillets and fish meat (0304); processed/unprocessed crustaceans (0306) with the import value of each group reaching over SGD 50 million in the first 3 months of 2025 (equivalent to about SGD 17 million/month).
Of which, processed/unprocessed crustaceans (0306) is the group with the highest import value, reaching 67.2 million SGD in the first 3 months of the year (equivalent to about 22 million SGD/month), accounting for nearly a quarter of the total import value of seafood in general of Singapore.
However, among these four main groups, currently only the frozen fish group excluding fish fillets and fish meat (0303) has positive growth in export value, up 21.4% over the same period in 2024, while the other groups show signs of slowing down, with a slight decrease of 1-4%, signaling the saturation of the domestic market.
In addition to the above 4 main groups, statistics also show that the Singapore market also has import demand for the following groups: live fish (0301); processed fish (0305); processed/unprocessed molluscs (0307); processed/unprocessed aquatic invertebrates except crustaceans/molluscs (0308).
Of these, the highest import value in the first 3 months of the year was the group of processed/unprocessed molluscs (0307), reaching over SGD 29.8 million. The group with the lowest import value was the group of processed/unprocessed aquatic invertebrates excluding crustaceans/molluscs (0308), reaching only over SGD 5.7 million. This is also the group that is witnessing a sharp decrease in demand in the Singapore market, down 15.6% in import value compared to the same period in 2024 (the first 3 months of 2024 also decreased by nearly 24% compared to the same period in 2023).
Regarding partners, in the first 3 months of 2025, Malaysia and Indonesia are currently the largest and second largest seafood suppliers to the Singapore market with import values currently reaching SGD 37.4 million and SGD 32.2 million, respectively, accounting for 13.2% and 11.4% of the total seafood import market share in this market. For seafood from Malaysia and Indonesia, Singapore currently focuses on importing two main groups: processed/unprocessed crustaceans (0306) and fresh/chilled fish excluding fish fillets and fish meat (0302).
Norway is currently the third largest seafood supplier to the Singapore market with an import value of SGD 30.4 million, accounting for 10.7% of the market share. Unlike seafood from Malaysia and Indonesia, for seafood from Norway, Singapore currently focuses on importing fresh/chilled fish except for fish fillets and fish meat (0302). This is also the imported seafood group in which Norwegian products are maintaining a dominant position in the Singapore market.
Vietnam is currently the fourth largest seafood supplier to the Singaporean market, currently holding the highest market share for the group of fish fillets and chilled/frozen fish meat (0304). This is the first time that Vietnamese seafood has risen to the top 4 largest seafood exporting partners to Singapore, after Malaysia, Indonesia and Norway.
Currently, chilled/frozen fish fillets and fish meat (0304) are the group with the highest import value among Vietnamese seafood groups in the Singapore market. In the first 3 months of 2025, it reached 14 million SGD, an increase of 2.5% over the same period in 2024, accounting for 27.8% of the market share. This is also the imported seafood group in which products from Vietnam are maintaining a dominant position in the Singapore market.
In the first 3 months of 2025, apart from fish fillets and chilled/frozen fish meat, Vietnam currently has only two other product groups with significant import value into the Singapore market, namely processed/unprocessed crustaceans (0306) and processed/unprocessed molluscs (0307), reaching SGD 5.6 million and SGD 4.9 million, respectively, accounting for 8.3% and 16.5% of the market share. With modest import value into Singapore and room for growth, these two groups are also recording positive growth in the first 3 months of 2025.
To support Vietnamese seafood enterprises in finding and expanding alternative markets to the US market affected by tariffs, in early April 2025, the Trade Office had a working session with leaders of the Vietnam Association of Seafood Exporters and Producers (VASEP).
Accordingly, VASEP and the Vietnam Trade Office in Singapore agreed to continue to coordinate in providing local information, connecting Vietnamese and Singaporean seafood businesses, enhancing trade promotion, participating in seafood exhibitions in Singapore, increasing the presence of Vietnamese goods in Singapore to support businesses in finding more partners, and expanding the market share of Vietnamese seafood products in Singapore in the coming time.
The trade office also stated that in the coming time, the scale of the imported seafood market in Singapore is expected to remain stable, and Vietnam will be able to continue to maintain a good market share for the group of fish fillets and chilled/frozen fish meat (0304). However, for other groups, especially the two groups of processed/unprocessed crustaceans (0306) and processed/unprocessed mollusks (0307), in addition to competition from seafood originating from Malaysia and Indonesia, Vietnamese seafood will also have to continue to compete with seafood from a number of countries such as China, Japan and India.
The Vietnam Trade Office in Singapore recommends that Vietnamese seafood businesses need to focus on controlling and maintaining product quality, regularly updating local regulations, improving product packaging designs, and enhancing product quality and productivity to increase competitiveness with similar products from other countries in the region.
Source: https://moit.gov.vn/tin-tuc/thi-truong-nuoc-ngoai/lan-dau-tien-viet-nam-lot-top-4-doi-tac-lon-nhat-xuat-khau-thuy-san-vao-singapore.html
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