China spends billions of dollars buying Vietnamese seafood

China has seen a decrease in seafood imports, with volumes down 6% and values down 11% in the first 8 months of the year compared to the same period last year, importing over 2.8 million tons and worth nearly 11.4 billion USD. Despite this, Vietnam has emerged as the third largest supplier, seeing a 17% increase in seafood exports to China, totaling over 1 billion USD, driven by pangasius and white-leg shrimp. Other seafood products like lobster, crab, snails, and clams have also seen significant increases due to changing consumer preferences towards fresh seafood. The Vietnam Association of Seafood Exporters and Producers (VASEP) anticipates a continued growth in seafood exports to China, with an estimated export turnover ranging from 9.4 to 9.5 billion USD for the year, marking a nearly 6% increase from 2023.

According to China Customs, in the first 8 months of this year, the country imported more than 2.8 million tons of seafood, worth nearly 11.4 billion USD. This level decreased by 6% in volume and 11% in value compared to the same period last year. Vietnam is the third largest supplier to this market. While China reduced imports from Ecuador and India, seafood products from Vietnam grew positively. According to Vietnam Customs data, seafood exports to China in the past 8 months reached over 1 billion USD, up 17% over the same period. Pangasius and white-leg shrimp are the two main products, with revenue reaching 350 million and 180 million USD, respectively. Other products such as lobster, crab, snails, and clams to China also increased sharply. Lobster increased 2.4 times, crab increased 16 times, snails and clams increased 7 and 3 times, respectively. Fresh seafood products have great potential, while frozen products face fierce competition. According to businesses, consumer ...