China and the US are the two largest importers of whitefish in the world. Vietnam is the second largest supplier to both markets (mainly supplying pangasius). Frozen pangasius fillets are still the main product imported from Vietnam by these two countries.

According to data from the International Trade Center (ITC), in the first 7 months of 2024, whitefish imports into China reached more than 1 billion USD, down 14% compared to more than 1.2 billion USD in the same period in 2023; the US reached more than 863 million USD, down 21% compared to more than 1 billion USD in the same period in 2022. Previously, in 2023, whitefish imports into China reached nearly 1.78 billion USD, down 27% compared to more than 2.4 billion USD in 2022; the US was 1.75 billion USD, down 31% compared to nearly 2.6 billion USD in 2022.

For the US market, in the first half of 2024, more than 184 million USD of Vietnamese whitefish were imported into the US, up 10% over the same period in 2023; More than 357 million USD of Chinese whitefish were imported into the US, down 17% year-on-year. In 2023, China was the largest supplier of whitefish to the US, with a total import value of 775 million USD, accounting for 44% of the total whitefish imported by the US from the world. After China, Vietnam was the source of whitefish (mainly pangasius) to the US in 2023, with nearly 330 million USD, accounting for 19% of the total whitefish imported into the US market.

For the Chinese market, as of the end of July 2024, Russia was the largest supplier of whitefish to China, with nearly 625 million USD, down 21% over the same period last year. After Russia, Vietnam was the second largest supplier of whitefish to this country, with a value of 162 million USD in the first 7 months of the year, down 22% over the same period in 2023. Previously, 2023 also recorded Russia as the country supplying the most whitefish to this market, with a value of more than 1.1 billion USD in 2023, accounting for 62% of the total whitefish China purchased from the world. After Russia, Vietnam is the second largest supplier of whitefish (mainly pangasius) to this market, with 339 million USD, accounting for 19% of the total whitefish China imported from the world.

China and the US are the two most important markets for Vietnam's pangasius export industry. With signs of recovery and growth in the first months of this year, along with favorable objective conditions, Vietnam's pangasius exports to these two markets have the basis to grow in the last months of this year.

Source: VASEP