According to Vietnam Customs, in July 2024, Vietnam's pangasius export turnover reached more than 184 million USD, an increase of 29% compared to July 2023. Cumulative exports in the first 7 months of this year reached more than 1.1 billion USD, an increase of 9% over the same period last year.

In terms of product structure, VAT pangasius exports continued to record a 30% growth in the first 7 months of this year, with a value of over 21 million USD. Exports of dried pangasius and other frozen pangasius products (whole, cut into pieces, bladders, etc.) reached nearly 200 million USD, up 22% over the same period. The export value of Vietnam's main pangasius product (frozen fillets) in the first 7 months of this year reached 881 million USD, up 6% over the same period last year.

Regarding consumption markets, China & HK continue to be the largest consumer markets for Vietnamese pangasius. Pangasius exports to this market in July 2024 reached 55 million USD, up 23% over the same period last year. In the first 7 months of this year, pangasius exports to China & HK reached 313 million USD, down 4% over the same period, mainly due to the decrease in February and March 2024.

Vietnamese pangasius exports to China & HK in July 2024 showed strong growth compared to the same period in 2023. This growth can be maintained in the second half of 2024 thanks to the recovery of demand, improvement of product quality, and successful trade strategies. However, the export industry needs to continue to monitor and adjust to the impact factors to maintain and expand the market.

Pangasius exports to the US in July 2024 reached 31 million USD, up 69% over the same period in 2023. Cumulative pangasius exports to the US in the first 7 months of this year reached 190 million USD, up 20% over the same period last year.

The CPTPP market block is the 3rd largest destination for Vietnamese pangasius, with the export value in July 2024 reaching 28 million USD, up 41% over the same period last year. By the end of July 2024, pangasius exports to the CPTPP market block reached 155 million USD, up 15% over the same period in 2023. Mexico is the country that consumes the most Vietnamese pangasius in the CPTPP block, with nearly 10 million USD, up 94% over the same period.

In July 2024, pangasius exports to the EU reached 14 million USD, up 7% over the same period last year. Cumulative pangasius exports in the first 7 months of this year to this market reached 99 million USD, down 2% over the same period in 2023. In particular, although the Netherlands is still leading the bloc in consuming Vietnamese pangasius, the export value to this market in the first 7 months of this year still witnessed a decrease of 4% over the same period, mainly due to the decline in February and May 2024.

The positive growth of pangasius exports in July 2024 shows the efforts of businesses in improving product quality, diversifying markets and adapting to fluctuations in the international market.

The world economy has many signs of recovery but the growth rate is slow. Food, energy and transportation costs remain high, causing global inflation to show signs of cooling down, but price pressure continues to increase, not reaching the target level that countries desire and potentially erupting again. Conflicts and hot spots continue to occur, not excluding the risk of escalation, causing instability to world security. The Russia-Ukraine conflict continues to be in a fierce tug-of-war on the ground, the prospect of negotiations remains deadlocked when there is no compromise or concession between the two sides, causing transportation costs to continue to increase, causing difficulties for Vietnam's seafood exports, including pangasius.

Pangasius export growth momentum still "maintains its form" in July 2024 despite barriers and difficulties. In the last months of the year, when the festival season and holidays come, the number of pangasius orders from Vietnam will continue to grow.

Source: VASEP