Vietnam is the 7th largest seafood supplier in the Chinese market.

According to statistics from China's Customs Administration, in August 2023, China's seafood imports reached US$1.4 billion, a decrease of 21% compared to the same period in 2022, marking the third consecutive month of decline. For the first eight months of 2023, China's seafood imports totaled US$12.8 billion, an increase of 9.4% compared to the same period in 2022.

Chế biến tôm đông lạnh xuất khẩu tại nhà máy của Công ty Thủy sản Minh Phú Hậu Giang, tỉnh Hậu Giang

Processing frozen shrimp for export at the Minh Phu Seafood Company's factory in Hau Giang province.

In August 2023, China's seafood imports from most major suppliers such as Ecuador, Russia, India, the United States, and Norway decreased compared to the same period in 2022, while imports from Peru, Chile, and Argentina increased.

Vietnam was the 7th largest supplier of seafood to China in August and the first eight months of 2023.

Specifically, in August 2023, China's seafood imports from Vietnam reached $69.02 million, a decrease of 35.5% compared to August 2022.

Overall, in the first eight months of 2023, China's seafood imports from Vietnam reached US$533.2 million, a decrease of 51.7% compared to the same period in 2022. Vietnam's market share of seafood in China's total imports plummeted to 4.2% in the first eight months of 2023 from 9.4% in the first eight months of 2022.

Notably, the Vietnam Association of Seafood Processing and Export reported that in the first eight months of this year, Vietnam's lobster exports to China reached $76 million, a 42% decrease compared to the same period in 2022. To date, China remains Vietnam's largest lobster import market.

According to the Vietnam Association of Seafood Processing and Export, China is a key export market for many Vietnamese seafood products. Pangasius exports to China consistently account for 30% of total export value. China is also among the top five importers of Vietnamese shrimp.

According to data from the Ministry of Agriculture and Rural Development , to date, the China Food Export Registration Guidance System (CIFER) of the General Administration of Customs of China has more than 800 Vietnamese enterprises that have been declared eligible to export seafood to China. Currently, China has issued 128 product codes related to Vietnamese seafood.

Mr. Nguyen Nhu Tiep, Director of the Department of Quality, Processing and Market Development of Agricultural Products (Ministry of Agriculture and Rural Development), stated that in order to export live seafood to China, establishments registering to export live seafood products such as tiger prawns, whiteleg prawns, crabs, and live lobsters need to be assessed and certified by the Department of Quality, Processing and Market Development of Agricultural Products to ensure food safety conditions according to the regulations of Vietnam and China.

Farming and product packaging facilities must be inspected and certified by the local agricultural, forestry, and fisheries management agency for food safety and veterinary hygiene conditions, and be assigned a registration number.

To boost seafood exports to this market, Mr. Nguyen Hoai Nam, Deputy Secretary General of the Vietnam Association of Seafood Processing and Export, suggested strengthening trade promotion and business exchanges between domestic enterprises and localities in China.

At the same time, support and expedite the processing of applications for businesses registering to export seafood to China. In particular, agencies need to update and provide information on the needs and regulations of the Chinese market and localities to Vietnamese businesses.

In August 2023, China's seafood imports from Japan plummeted after China imposed a ban on seafood products imported from Japan.

China was Japan's largest seafood export market in 2022, with products such as scallops, tuna, sea urchins, snapper, and sea cucumbers. China's ban on seafood imports from Japan could create opportunities for some Vietnamese seafood exports in the near future.

Vietnam is currently negotiating to diversify its export products. The procedures for exporting live oysters have been largely completed, while the risk assessment for frozen shrimp and salted jellyfish continues.

China is currently the most promising market for seafood businesses, as the Chinese economy stabilized in the last months of 2023, and people's incomes and consumption gradually increased. The Vietnam Association of Seafood Processing and Export predicts that seafood exports to China and Hong Kong (China) have the opportunity to recover, with export value expected to reach US$1.8 billion in 2023.

If the economy in major markets recovers in the final months of the year, businesses have strong production capabilities, a stable supply of raw materials, and export products have competitive prices, seafood exports in 2023 could generate over $9 billion.

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