Vietnam's seafood market share in Japan's total imports decreases

According to the Japan Customs Agency, in 2023, the country's seafood imports will reach 1.86 million tons, worth 1,869 billion yen (equivalent to 12.5 billion USD), down 4.8% in volume and 5.2% in value compared to 2022.

There is still a lot of room for Vietnam's shrimp exports to the Japanese market.

In 2023, imports of most seafood products into Japan will decrease compared to 2022, except for imports of crab, salmon, and eel, which will increase in volume.

Of which, tuna is the most imported seafood product of Japan in 2023, reaching 596.3 thousand tons, worth 612.5 million USD (equivalent to 4.1 billion USD), down 4.8% in volume and 3.6% in value compared to 2022. The average import price of tuna of Japan in 2023 is at 6.9 USD/kg, up 1.3% compared to 2022.

Shrimp is the item that Japan imported the most in 2023, down 9.4% in volume, reaching 212.4 thousand tons. The average import price of shrimp to Japan in 2023 was 9.6 USD/kg, down 1.4% compared to 2022.

Also according to data from the Japan Customs Agency, in 2023, Japan's seafood imports will decrease in most markets compared to 2022, except for the United States, Indonesia and South Korea.

Although Vietnam maintains its position as the third largest seafood supplier to Japan, it is the market with the second largest decrease in volume after Russia, down 13.2% compared to 2022, reaching 132 thousand tons.

The market share of Vietnamese seafood in Japan's total imports will decrease from 7.8% in 2022 to 7.1% in 2023.

According to the Import-Export Department, in 2023, Vietnam's shrimp exports to Japan faced difficulties as market demand decreased, reaching 56.96 thousand tons, worth 513.2 million USD, down 16.7% in volume and 22.7% in value compared to 2022. However, Vietnam's shrimp exports to Japan showed signs of recovery with a slight increase in December 2023.

In this market, Vietnamese shrimp still maintains its competitiveness. Japanese consumers require products to be delicious, beautiful, and meticulously processed, while Vietnam's processing level and capacity can completely meet those requirements with processed shrimp products such as: breaded shrimp, stretched shrimp, fried shrimp, sushi shrimp... Therefore, there is still a lot of room for Vietnamese shrimp exports to the Japanese market.

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