Specifically, November 2022 – for the first time since the beginning of the year, the growth of seafood exports fell to a negative level (down over 14%) compared to the same period last year, reaching only about 780 million USD, the lowest level since the beginning of the year. from the Lunar New Year. Accumulated to the end of November 2022, Vietnam's seafood exports reached 10.2 billion USD, up nearly 28% over the same period in 2021.

By the end of November, pangasius exports still grew strongly by 63%, reaching nearly 2.3 billion USD

In November, exports of shrimp, pangasius and tuna all decreased by 20-26% over the same period last year. Only squid, octopus and marine fish for export still maintained positive growth of 9% and 6% respectively.

By the end of November, pangasius exports still grew strongly by 63%, reaching nearly 2.3 billion USD, shrimp earned over 4 billion USD, up 14%. Tuna is the industry with the second largest growth with 40% reaching 941 million USD. Export of squid and octopus also increased strongly by 30%, reaching 704 million USD.

The US market contributed the largest amount of foreign currency to Vietnam's seafood with over US$2 billion, up nearly 10% over the same period in 2021. Exports to China - Hong Kong and the Japanese market achieved close sales. equivalent, about 1.6 billion USD. The EU market by the end of November brought in over $1.2 billion in Vietnamese seafood and over $882 million in South Korea.

The bloc of CPTPP countries (including Japan), accounted for over 26% of Vietnam's total seafood exports with nearly $2.7 billion in the first 11 months of the year, up 34% over the same period.

In general, the achievement of over 10 billion USD by the end of November is the result of strong growth in the first 3 quarters of the year, with favorable market demand, increased export prices, and sufficient raw materials to supply orders.

However, in the second half of the year, export growth slowed down and market demand dropped, which was most evident in the export results in the fourth quarter. In October, seafood exports only increased by 2% over the same period, in November 2022, 14% lower than in November 2021.

It is forecasted that in December, seafood exports will fall further and the decline will last until 2023. Inflation heavily affects import markets, causing buying demand for the first quarter of 2023. almost stalled. Many seafood businesses said that orders dropped sharply not only for high-priced items such as black tiger shrimp, large white leg shrimp, and high-class seafood such as squid, octopus, tuna, etc., but also other seafood products. Moderately priced products such as small shrimp, pangasius, small sea fish, fish cakes, surimi... also saw a significant reduction in demand for the first quarter of 2023.