Pangasius exports to CPTPP market to see positive growth this year

13/10/2023    21

Vietnamese pangasius exports to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) market are anticipated to record positive growth this year, according to details provided by the Vietnam Association of Seafood Exporters and Producers (VASEP). 

Statistics indicate that the CPTPP market imported pangasius products worth nearly US$9 million from the nation in the first half of September, duly representing an increase of 17% on-year and recording positive growth for the first time since the beginning of the year.

Several markets, including Japan, Mexico, and Canada, all witnessed double-digit growth in the reviewed period, with import revenue rising by 75%, 59%, and 16% to reach US$1.3 million, US$2.4 million, and US$3 million, respectively.

During the eight-month period, the CPTPP bloc imported pangasius products worth US$158 million from the Vietnamese market, down 3% compared to the same period from last year.

Mexico topped the list of countries in the CPTPP bloc in terms of importing Vietnamese pangasius with turnover reaching US$7 million, down 4% on-year. This was followed by Canada, Japan, and Singapore with turnover recording US$4 million, US$3 million, and US$2.8 million, respectively.

As of September 15, Vietnamese pangasius exports to the CPTPP market reached US$167 million, marking a decline of 32% over the same period from last year.

Experts assessed that with these positive signs being seen recently, pangasius exports to the market will enjoy promising growth ahead in the remaining of the year.

Furthermore, the UK's entry to CPTPP is expected to become a driving force to strengthen the value and supply chain in the bloc, accelerate the process of trade liberalisation in the region, and create more favourable conditions for Vietnamese goods to make further inroads into CPTPP member countries moving forward.

Source: VOV