Vietnamese pangasius exports to Germany endure consecutive declines
VOV.VN - Vietnamese pangasius exports to Germany dropped by 18% in August to more than US$2 million, marking the third consecutive month that pangasius exports to the market have witnessed negative growth, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
VASEP experts noted that after experiencing impressive growth in the initial months of this year, pangasius exports to this market suffered contraction for three consecutive months in June, July, and August.
Despite global fluctuations, Germany was among the main top markets that increased imports of Vietnamese pangasius in the first five months of the year. It was also one of the country’s few export markets that recorded double-digit growth of between 20% and 84% in the reviewed period, while pangasius exports to other markets faced a downward trajectory.
Most notably, Vietnamese pangasius exports to Germany in March witnessed 2.3-fold rise compared to March 2022, marking the highest increase in exports to the market since the beginning of this year.
However, pangasius exports to Germany began to fall from June, with the export value declining 28% and 18% in July and August respectively compared to the same period last year.
VASEP experts say as the German economy is facing many difficulties due to economic recession, and high inflation, Vietnamese pangasius exports to the fasdious market are not likely to see robust growth moving forward.
According to VASEP statistics, pangasius exports to the Central European nation during the eight-month period increased by 19% to US$23 million against the same period last year.
