Vietnam's seafood export turnover to the Singapore market in 2024 increased by 4.99% (export value reached nearly 113.37 million SGD), accounting for a market share of 9.68%.

According to a VNA reporter in Singapore, in its policy of diversifying seafood supply sources, Singapore continuously seeks and expands import markets through various policies.

This has increased competition among seafood exporting countries to Singapore. However, in 2024, Vietnam surpassed Japan for the first time, maintaining the 5th position for 12 consecutive months.

The Vietnam Trade Office in Singapore cited data from the Singapore Enterprise Authority, saying that in 2024, Singapore imported seafood from nearly 100 countries and territories with a total import turnover of about SGD 1.17 billion, down 2.58% over the same period in 2023.

The group of aquatic products that accounts for a large proportion in the Singapore market includes: shrimp, crab, crustacean seafood (HS0306) accounting for 23.74% of the total market consumption; followed by frozen fish (HS0303) accounting for 18.84%; fresh, chilled fish (HS0302) accounting for 18.08%; fish fillets, chilled or frozen fish meat (HS0304) accounting for 16.94%; mollusc seafood (HS0307) accounting for 11.29%...

Product groups such as fresh fish, processed fish and aquatic products account for relatively low proportions, at 3.36%; 5.04% and 2.71% respectively.

Among the top 15 seafood exporting countries to the Singapore market, Malaysia continues to be the leading country (accounting for 12.98% of the market share), followed by Indonesia with 11.05% of the market share, Norway ranked 3rd (10.16% of the market share), China (9.98% of the market share) and Vietnam for the first time surpassed Japan to maintain the 5th position for 12 consecutive months (accounting for 9.68% of the market share).
 

Vietnam's seafood export turnover to the Singapore market in 2024 increased by 4.99% (export value reached nearly 113.37 million SGD), accounting for a market share of 9.68%.

Figures show that seafood export turnover from Vietnam to Singapore in 2024 increased well in the Molluscs group (HS0307), at 117.92%, but there was a sharp decrease in three groups: Fresh and chilled fish group (HS0302) down 48.59%, Frozen fish group (HS0303) down 30.1%, Aquatic products group (HS0308) down 31.82%.
 

According to Mr. Cao Xuan Thang, Commercial Counselor, Head of Vietnam Trade Office in Singapore, Vietnam still maintains its important position and role in exporting seafood to the Singapore market.
 

However, in order to increase market share sustainably, improve the ranking and export value of seafood to Singapore, Vietnam needs to continue to improve the quality of seafood products, make the most of logistics advantages and minimize costs to create greater competitive advantages in exporting goods to Singapore./.