Will the United States "dethrone" China?

In recent years, China has been the largest importer of Vietnamese pangasius, followed by the United States. Will this order change in 2025?

According to Vietnam Customs, in the fourth quarter of 2024, Vietnam's pangasius exports to China and Hong Kong (China) reached 163 million USD, up 17% over the same period in 2023 and increased steadily in all months. Cumulative Vietnam's pangasius exports to this market in 2024 reached 581 million USD, up 1% over the same period in 2023.

In the past 10 years, in 2017, China for the first time overtook the United States and became the largest importer of Vietnamese pangasius. A year later, in 2018, the United States immediately regained its position. Pangasius exports to the United States in 2018 reached 550 million USD, while exports to China reached 529 million USD.

In 2024, pangasius exports will reach 2 billion USD, an increase of 9% compared to 2023.

However, pangasius exports to the US market from 2019 to now have not been able to grow strongly due to the problem of anti-dumping tax. China has been the leading market for importing Vietnamese pangasius for the past 6 consecutive years.

In 2024, pangasius exports to China will contribute 29% of the total value of Vietnam's exports to markets. October 2024 was the month with the highest export turnover of Vietnamese pangasius to China and Hong Kong (China) since the beginning of the year, with more than 61 million USD, up 9% over the same period in 2023.

Frozen pangasius fillet products from Vietnam are very popular with Chinese consumers. In the fourth quarter of 2024, the export value of this product to China reached more than 100 million USD, an increase of 62% compared to the fourth quarter of 2023. In 2024, frozen pangasius fillet exports to China and Hong Kong (China) reached 349 million USD, down 6% compared to the same period last year, accounting for 60% of the total pangasius exports to this market.

Vietnam Pangasius Export Data to 2 Largest Markets

In the fourth quarter of 2024, China increased imports of dried fish and other frozen products (whole, cut, bladder, etc.) by 7% compared to the same period in 2023. Exports of VAT-equivalent pangasius in the fourth quarter of 2024 recorded a growth of 92% compared to the same period in 2023.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the United States and China are currently the top two markets importing the most Vietnamese pangasius. Will China's top position in the market be adjusted in 2025 when Vietnam and the United States recently signed a bilateral agreement to remove anti-dumping taxes on fish fillets exported from Vietnam?

Along with that, the US enforcement of the WTO ruling opens up great opportunities for more stable export of Vietnamese pangasius to the US market. This also contributes significantly to demonstrating the goodwill to strengthen the multifaceted relationship between Vietnam and the US, especially in the context of the two countries upgrading their Comprehensive Strategic Partnership.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in 2024, pangasius exports will reach 2 billion USD, an increase of 9% compared to 2023. Thus, after 2 years of many fluctuations in both export markets and domestic production, the Vietnamese pangasius industry has overcome challenges, adapted flexibly and with strong determination, seizing the opportunity to break through exports to markets.

Source: https://congthuong.vn/nhap-khau-ca-tra-hoa-ky-lieu-co-soan-ngoi-trung-quoc-372141.html