According to the Vietnam Association of Seafood Exporters and Producers, Australia is one of the Vietnamese seafood markets with high export growth in the first two months of this year, with a 33% increase compared to the same period last year.
In January 2024 alone, seafood exports to Australia surged by nearly 90% compared to the same period, reflecting the attractiveness of this market to Vietnamese enterprises as well as the recovery of demand for Vietnamese seafood in the market.
Shrimp, catfish, and some marine fish species are the main export groups to the Australian market. Among them, shrimp accounts for over 60% with a turnover of over 34 million USD in the first two months of this year, up 20% compared to the same period. Catfish exports to Australia increased by nearly 70% in the first two months, reaching over 6 million USD. The export of other marine products (excluding tuna) also saw a strong increase of 72%.
Seafood exports to Australia have continuously grown during the period of 2018 – 2022
According to Ms. Le Hang – Director of Communication, Vietnam Association of Seafood Exporters and Producers (VASEP), thanks to the advantages from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Australia is a market with good potential for Vietnamese seafood businesses. The good cooperation relationship and active attention from the governments of both countries to commercial activities, including seafood trade.
Currently, Australia is the 5th largest seafood importing market, accounting for 3.4% of Vietnam’s seafood exports. After the CPTPP agreement took effect, Vietnamese seafood exports to Australia have been continuously growing. While in 2018, Vietnam’s seafood exports to Australia reached only 197 million USD, by 2022, it has increased to 365 million USD. Although in 2023, seafood exports to this market decreased to 312 million USD, this decline is due to the overall global situation.
According to Ms. Hang, Australia is a potential market because over 65% of seafood consumption in the country is imported. This market imports seafood from over 95 countries around the world. Among them, Vietnam is the leading seafood supplier in Australia, accounting for over 22% of the total seafood import turnover of this market.
