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Growing Pangasius Exports to Germany Driven by EVFTA Benefits

Despite facing challenges, the export of pangasius to Germany has been experiencing significant growth. Experts predict that the strong growth trend of pangasius exports to Germany will continue throughout the remaining months of the year.

Administrator

22 November, 2023

211

Pangasius exports to Germany grow strongly.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in 2023, due to global fluctuations and declining consumer demand, many major markets have reduced pangasius imports from Vietnam. However, Germany is still considered a stable market as it has continuously recorded positive growth for many months.

Citing data from the General Department of Customs, VASEP said that after three consecutive months of decline, in September 2023, pangasius exports to Germany increased again when this market bought nearly USD 6 million of pangasius from Vietnam, an increase 2.5 times higher than the same period last year.

In the first half of October 2023, pangasius exports to Germany reached a turnover of nearly USD 2 million, nearly doubling over the same period in 2022. As of October 15, 2023, this European country consumed more than USD 30 million of Vietnamese pangasius, an increase of 35% over the same period in 2022.

According to seafood experts, the Vietnam – EU Free Trade Agreement (EVFTA) took effect in August 2020, bringing many incentives, and creating more competitiveness for Vietnamese seafood products. These are opportunities for Vietnamese businesses to export directly to the European market.

Despite having the highest inflation rate among major economies, and continuing economic decline in 2023, Germany is still expected to replace Japan’s position – the top 3 countries with the largest economies in the world in the past 10 years. Therefore, the opportunity to export Vietnam’s pangasius to this market is still good, especially at the end of the year when the festival season begins and demand from the service sector increases.

However, Chairman of the Vietnam Pangasius Association Duong Nghia Quoc said that Germany is a demanding market, many agricultural products, including pangasius, have been penetrated for a long time, but recently due to consumer demand, the quantity needs to be imported again.

Therefore, Quoc said that in addition to businesses having to prepare a stable source of goods and supply goods promptly, they must also try to ensure that goods meet the quality requirements of customers to maintain their reputation.

Hai Dang