16:46 | 04/05/2015 Trade
In 2014, Viet Nam gained US$ 3.99 billion from export to Australia, up 13.7% year on year. Seafood exports from Viet Nam to Australia reached at US$ 239 million, revealing an increase of 16%.
Imports of Australia in 2014 valued US$ 228.7 billion, seafood imports alone were estimated at US$ 1.6 billion, up 5% year on year.
Viet Nam is known as the third largest seafood supplier to Australia, with 13.7% of the market share, followed by Thailand and China, which accounted for 22.9% and 18.1%, respectively.
Statistics from Vietnam Commerce Agency in Australia revealed that shrimp was Viet Nam's most exported seafood to Australia, accounting for 59% of total Vietnam's seafood exports to this market. Frozen shrimp accounts for nearly 25% of Australian market. Shrimp from Viet Nam made up 30% of market share, just after China, which dominated 35%.
Processed shrimps (approximately 51.5% in Australia market) were from Viet Nam. Of processed shrimp exported from Viet Nam to Australia, 65% was canned and another 42% was not canned. Viet Nam seafood exports to Australia has been growing at 41%, which means there are rooms for expansion into this market.
Frozen freshwater fish fillets such as tilapia, perch, carp, eel and snakehead were the second most common seafoods exported to Australia, accounting for 16.3% of total seafood exports and 21.7% of the market share. Exports of the same products from New Zealand to Australia declined while exports from Viet Nam remained positive growth of 7% in 2014.
Frozen pangasius fillets account for 7.2% of Viet Nam seafood exports to Australia. Exports of this species have been increased and this trend will continue in years to come.
Canned processed skipjack was also a common seafood export good but the market share was just 0.2% as Thailand dominated the market with 88% and Indonesia accounted 9.2%. As imports from Thailand is on a downward trend, Viet Nam can cease this opportunity to increase market share in Australia.
Processed cuttlefish and other fishes from Viet Nam did not have much space in Australia market as China and Thailand contributed 55% and 13% cuttlefish market share while Thailand and Malaysia accounted made up 32% and 29% of processed fish market share.Source MOIT