In the first five months of 2024, Vietnam was the seventh-largest supplier of seafood to China
At the beginning of 2023, China's seafood imports increased significantly compared to the same period in 2022 after the country lifted its "Zero-Covid" policy.
According to China's Customs Authority, in May 2024, the country's seafood imports reached USD 1.43 billion, a decrease of 25.2% compared to the same period in 2023. This marked the fourth consecutive month of sharp decline since the beginning of 2024, mainly due to the high base level of 2023. In total, for the first five months of 2024, China's seafood imports amounted to USD 7.235 billion, down 11.8% compared to the same period in 2023.
Vietnam became the fourth-largest seafood supplier to China in May 2024, reaching USD 91.1 million, an increase of 18.2% compared to May 2023. In total, for the first five months of 2024, Vietnam was the seventh-largest seafood supplier to China with a value of USD 365.5 million, up 9.7% compared to the same period in 2023. Vietnam's share of seafood in China's total imports increased from 4.1% in the first five months of 2023 to 5.1% in the first five months of 2024.
In the first five months of 2024, China significantly increased imports of lobster from Vietnam, while imports of frozen pangasius fillets, dried fish, and frozen shrimp (HS 030617) decreased significantly. Notably, the market share of many Vietnamese seafood products in China's total imports increased in the first five months of 2024 compared to the same period in 2023, even for some products with reduced value. This indicates that Vietnamese seafood still has relatively good competitiveness in the Chinese market.
Import-Export Department - Ministry of Industry and Trade
