Singapore's seafood import turnover reached nearly 559.5 million SGD
According to information from the Vietnam Trade Office in Singapore, statistics from the Singapore Enterprise Authority show that in the first 6 months of 2025, the total value seafood import from Singapore's world reached nearly 559.5 million Singapore dollars (SGD), up slightly by 2.4% over the same period in 2024.
Regarding the demand for major seafood products, the Singapore market continues to show relatively even demand for four groups: fresh/chilled fish excluding fish fillets and fish meat (0302); frozen fish excluding fish fillets and fish meat (0303); chilled/frozen fish fillets and fish meat (0304); and unprocessed/processed crustaceans (0306) with the import value of each group reaching over SGD 110 million in the first 6 months of 2025 (equivalent to about SGD 18 million/month).
Of which, processed/unprocessed crustaceans (0306) is the group with the highest import value, reaching 132.9 million SGD in the first 6 months of the year (equivalent to about 22 million SGD/month), accounting for nearly a quarter of the total import value of seafood in general of Singapore.
However, among these four main groups, currently only the frozen fish group excluding fish fillets and fish meat (0303) shows positive growth in export value, up 24.3% over the same period in 2024, while the other groups show signs of slowing down, with a slight decrease of 1-3%, signaling the saturation of the domestic market.
In addition to the above 4 main groups, statistics also show that the Singapore market also has import demand for the following groups: live fish (0301); processed fish (0305); processed/unprocessed molluscs (0307); processed/unprocessed aquatic invertebrates except crustaceans/molluscs (0308).
Among them, the group with the highest import value in the first 6 months of the year was the group of molluscs, processed/unprocessed (0307), reaching over SGD 57.2 million. The group with the lowest import value was the group of aquatic invertebrates, processed/unprocessed, excluding crustaceans/molluscs (0308), only SGD 12.3 million, this is also the group that continues to witness a sharp decline in demand in Singapore market, down 19.5% in import value compared to the same period in 2024 (the first 6 months of 2024 also decreased by nearly 24% compared to the same period in 2023).
Regarding partners, in the first 6 months of 2025, Malaysia and Indonesia are currently supply partners. seafood largest and second largest for the Singapore market with import values currently reaching 75.2 million SGD and 63.2 million SGD respectively, accounting for 13.4% and 11.3% of the total market share of imported seafood in this market.
For seafood from Malaysia and Indonesia, Singapore currently focuses on importing two main groups: processed/unprocessed crustaceans (0306) and fresh/chilled fish excluding fish fillets and fish meat (0302).
Vietnam becomes third seafood supplier in Singapore
In the first 6 months of 2025, Vietnam temporarily surpassed Norway, becoming the third largest seafood supplier in the Singapore market for the first time with an import value of 57.2 million SGD, accounting for 10.2% of the market share with 2 main groups: fish fillets and chilled/frozen fish meat (0304) and processed/unprocessed crustaceans (0306).
Although temporarily behind Vietnam, Norway is still one of the main seafood suppliers to Singapore, continuing to lead the fresh/chilled fish group excluding fish fillets and fish meat (0302) with 43.2% of Singapore's import market share for this group.
According to statistics from the Singapore Enterprise Authority, in the first 6 months of 2025, the value of total seafood imports (HS03) from Vietnam to Singapore reached 57.2 million SGD, an increase of 10.8% over the same period in 2024, accounting for 10.2% of the total market share of imported seafood in this market.
Currently, chilled/frozen fish fillets and fish meat (0304) are the group with the highest import value among Vietnamese seafood groups in the Singapore market, in the first 6 months of 2025, reaching 29 million SGD, an increase of 2.1% over the same period in 2024, accounting for 29.6% of the market share. This is also the imported seafood group in which products from Vietnam are maintaining a dominant position in the Singapore market.
In the first 6 months of 2025, apart from fish fillets and chilled/frozen fish meat (0304), Vietnam currently has only two other groups with significant import value into the Singapore market, namely processed/unprocessed crustaceans (0306) and processed/unprocessed molluscs (0307), reaching SGD 12.5 million and SGD 7.1 million, respectively, accounting for 9.4% and 12.4% of the market share. With modest import value into Singapore and room for growth, these two groups are also recording positive growth (13.3% and 172.1%) in the first 6 months of 2025.
According to Mr. Cao Xuan Thang, Vietnam Trade Counselor in Singapore, in the coming time, with the scale of the imported seafood market in Singapore maintained stable, Vietnam will likely continue to maintain a high market share for the group of fish fillets and chilled/frozen fish meat (0304). However, for other groups, especially the two groups of processed/unprocessed crustaceans (0306) and processed/unprocessed molluscs (0307), in addition to competition from seafood originating from Malaysia and Indonesia, Vietnamese seafood will also have to continue to compete with seafood from a number of countries such as China, Japan and India.
According to statistics from the Singapore Enterprise Management Authority and records from the Trade Office, in recent years, trade promotion activities in Singapore have had good results, and Vietnamese seafood has made significant progress in the Singapore market. In 2024, Vietnam surpassed Japan to continuously maintain its position as the 5th largest partner for 12 months. In the first quarter of 2025, Vietnam continued to surpass China and become the 4th largest seafood export partner to Singapore.
Source: https://baoquangninh.vn/viet-nam-vuon-len-vi-tri-doi-tac-xuat-khau-thuy-san-lon-thu-3-vao-singapore-3368368.html
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