Seafood processing workers at an enterprise. Photo: Trung Chanh.

During the first 6 months of 2024, Vietnam's seafood export value to the Singapore market increased by 0.81%, accounting for a 9.46% market share. The group with a strong increase in export value was fresh fish (up 25.42%). On the other hand, some products underwent a significant decline in export value, such as chilled fresh fish down 26.93% year-on-year, frozen fish down 39.42%, and aquatic products down 23.08%.

The Vietnamese Trade Counselor in Singapore said that in order to stably increase market share, and improve ranking as well as the export value of Vietnamese seafood to Singapore, Vietnamese exporters need to continue to improve the quality of seafood products. Enterprises should also participate in activities organized by the trade office, connecting with seafood associations and enterprises in Singapore, to facilitate the presence of Vietnamese goods in this market.

According to statistics from the Singapore Enterprise Management Agency, in the first 6 months of 2024, Singapore imported seafood from around 100 countries and territories. The total import value was approximately 546.14 million SGD, a decrease of 3.42% compared to the same period in 2023.

Among the top 15 seafood exporting countries to the Singapore market, Malaysia continues to be the leading country, followed by Norway, Indonesia, and China. Vietnam for the first time maintained the 5th position for two consecutive quarters.