The export volume of Vietnamese salmon decreased by 35% year-on-year in the first quarter of this year

In the first quarter of this year, the export value of Vietnamese salmon was 422 million US dollars, a year-on-year decrease of 35%. Exports to the two largest markets, China and the United States, decreased by 22% and 64% respectively. In fact, after a serious decline in exports to China in January of this year, there was a good growth in February, with an increase of 26%. Global food inflation and high inventory have led to a decrease in demand and prices in importing countries, which has had a negative impact on the export of Vietnamese salmon in many major markets.

The export of Vietnamese salmon to the United States has not yet recovered, while exports to the European Union have released positive signals, mainly due to the doubling of exports to Germany. However, exports to other markets have experienced varying degrees of decline of 12% -61%. In the first quarter of this year, the export value of Vietnamese salmon to Singapore was 8.7 million US dollars, a year-on-year increase of 35%; The export value to the UK is 16.2 million US dollars, a year-on-year increase of 34%. However, some export companies in Vietnam have experienced negative growth in revenue, with a decrease of 7% -43%. It is expected that in the future, Vietnamese salmon will mainly be exported to China, some European countries, such as the UK, Germany, Portugal, and the Middle East market. Due to Vietnam's trade promotion plan, it is expected that the export of Bashar fish will resume in the third quarter of 2023.