Agriculture & Food

According to customs data, the total export volume of Vietnamese salsa to ASEAN is almost equal to that of the EU. The main markets of ASEAN include Thailand, the Philippines and Singapore.

By the end of September 2022, Vietnam's exports of salmon to ASEAN countries had exceeded 152 million US dollars, accounting for nearly 8% of the total exports.

According to the customs data, the export value of Vietnamese Salmon to Thailand accounted for 3.6% of the total value. As of the third quarter of this year, the export value of Vietnamese Salmon to Thailand exceeded 70 million US dollars, an increase of 81% year on year. The import value of the single month in September increased by 165% year on year.

The most significant growth in September was in the Philippine market. According to customs data, as of the end of the third quarter, the export of Vietnamese salsa to this market exceeded 25 million dollars, a year-on-year increase of 92%, accounting for 1.3% of the total. The export volume in September increased five times year-on-year.

Singapore is the second largest export market of Vietnamese salsa in ASEAN. According to customs data, the export value to Singapore in the first nine months of this year exceeded 28 million US dollars, a year-on-year increase of 56%, and the export value in September was more than three times higher than that in September.

According to customs data, in the first three quarters of this year, Vietnam's salsa exports to Malaysia and the Philippines exceeded 26 million US dollars, an increase of 114% year on year, and the exports in September increased by 138% year on year.

Cambodia, Indonesia, Laos and other ASEAN countries are inclined to substantially increase the import of Vietnamese salsa, with a growth rate of 3 to 23 times that of the same period in 2021.

The rise in transport costs is a negative factor for the export industry of Salmon, because its price is not high compared with other seafood. Vietnamese croaker exporters are taking advantage of the geographical location of the ASEAN market to reduce transport costs and increase export efforts to increase export earnings.