Pangasius exports to Germany increased
MEKSEA.COM – According to statistics from Vietnam Customs, in September 2023, Germany purchased nearly $6 million worth of pangasius from Vietnam, marking a 2.5 times increase compared to the same period last year after three consecutive months of decline. By the end of September 2023, the export turnover of pangasius to Germany reached over $28 million, a 32% increase compared to the same period last year, contributing more than 1/5 to the total pangasius imports from Vietnam to the EU. Notably, in September 2023, the export of pangasius to this market recorded the highest value in the past 2 years, with a 149% increase compared to September 2022.
Germany mainly imports pangasius products under HS code 0304 (excluding fish sausage and surimi) with a value of $5.5 million in September 2023, a 2.5-fold increase compared to the same period last year. In the first 9 months of this year, pangasius under HS code 0304 accounted for 97% of the total export volume of pangasius from Vietnam to this market.
In 2023, amid fluctuations in the global market and a decrease in consumer demand, many major markets reduced their pangasius imports from Vietnam. However, Germany remains a stable market, with continuous positive growth recorded in several months, except for June, July, and August 2023.
According to the ITC, in the first 7 months of 2023, Germany purchased nearly 6 thousand tons of pangasius from Vietnam, a 50% increase compared to the same period last year.
In the first half of October 2023, pangasius exports to Germany reached an export turnover of nearly $2 million, nearly doubling compared to the same period in 2022. As of October 15, 2023, this European country has consumed more than $30 million worth of Vietnamese pangasius, a 35% increase compared to the same period in 2022.
Despite being the country with the highest inflation rate among major economies and experiencing continued economic decline in 2023, Germany is still expected to replace Japan as one of the top three largest economies in the world for the past 10 years. Therefore, the opportunity for pangasius exports from Vietnam to this market remains favorable, especially towards the end of the year as the holiday season begins and demand from the service sector increases.
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By Hayati (Meksea Team)
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