VIETNAMESE EXPORTS TO CHINA/HONG KONG SHOW GOOD VALUE GROWTH
Vietnamese exports to China/Hong Kong show good value growth. In the first 3 months of 2020, the total export value of pangasius reached US$ 334 million, down 29.3% over the same period in 2019, reports the Vietnam Association of Seafood Exporters and Producers.
During the first quarter of 2020, Covid-19 had a significant impact on Vietnamese pangasius exports to many markets. This export landscape is brighter when witnessing pangasius export value to 2 major markets – China – Hong Kong and the US growing quite well. In particular, in March 2020, pangasius export value to China – Hong Kong soared by 109% compared to January 2020.
By the end of March 2020, the export value to China – Hong Kong reached US$ 63.2 million, accounting for 18.9% of the total pangasius export value, down 36.4% over the same period in 2019. However, this is an optimistic export compared to the first days of the year – the time when the outbreak of Covid-19 broke out strongly. Particularly in March 2020, the export value of pangasius to this market reached US$ 34.7 million, up more than 109% compared to January 2020. China – Hong Kong returned to be the largest pangasius importer of Vietnamese enterprises in the first quarter of 2020. It is forecasted that in the second quarter of 2020, pangasius export to this market will recover strongly and increase from 30-40% compared to the same period in 2019.
If exports had not been affected by the disruption in trade transactions, pangasius export value to the US would have been much better than the continuous decrease in 2019. In March 2020 alone, the export value of pangasius to the US reached US$ 23 million, up 26.4% over the same period in 2019. By the end of March 2020, the total export value to this market reached US$61.7 million, accounting for 18.5%, down 13.2% compared to the same period in 2019. Although pangasius export value in the first 3 months of 2020 still fell compared to the same period in 2019, exports in the first months of the year showed a positive reaction from this market. Hopefully in the second quarter, Vietnam’s pangasius export value to the US market will surpass a positive growth over the same period in 2019.
As forecasted, from February to March 2020, when Covid-19 disturb the transport, distribution, as well as business activities of EU countries, pangasius export to this market is increasingly affected. clear. By the end of March 2020, pangasius export to the EU reached nearly 36.5 million USD, down 36.5% compared to the same period in 2019. In particular, the export value to the 4 largest single markets in the block (the Netherlands, Germany, Belgium and Spain) all dropped. The reduction was respectively 31.4%; 30%; 45.3% and 31.4% compared to the same period in 2019. At least until the epidemic situation will be controlled and the export and import activities returned to normal, pangasius exports to this market can stabilise.
Pangasius exports to other major importers in the first 3 months of 2020 such as ASEAN, Brazil, Mexico, Colombia and Australia still dropped sharply. In particular, pangasius export value to ASEAN declined by 29%; exports to Brazil fell by19%, Mexico slumped by 57.8%, Colombia slashed 12% compared to the same period in 2019.