Vietnam is in the top 4 largest partners exporting seafood to Singapore.

Shrimp processing line for export in Binh Chanh district, Ho Chi Minh City. (Photo: Hong Dat/VNA)

According to a VNA correspondent in Singapore, statistics show that Singapore's total seafood import value in the first quarter of 2025 increased slightly, and for the first time, Vietnam has risen to the top 4 largest seafood export partners to Singapore, after Malaysia, Indonesia and Norway.

The Vietnam Trade Office in Singapore cited statistics from the Singapore Enterprise Authority, saying that in the first 3 months of 2025, Singapore's total import value of seafood from the world reached nearly 283.6 million SGD, an increase of 1.1% over the same period in 2024.

In terms of demand for major seafood products, the Singapore market continues to show relatively even demand for four groups: fresh/chilled fish excluding fish fillets and fish meat; frozen fish excluding fish fillets and fish meat; chilled/frozen fish fillets and fish meat; and unprocessed/processed crustaceans, with import value of each group reaching over SGD 50 million in the first 3 months of 2025 (equivalent to SGD 17 million/month).

Of which, processed/unprocessed crustaceans are the group with the highest import value, reaching 67.2 million SGD in the first 3 months of the year (equivalent to 22 million SGD/month), accounting for nearly a quarter of the total import value of seafood in general of Singapore.

However, currently only the frozen fish group, except fish fillets and fish meat, shows positive growth in export value, up 21.4% over the same period in 2024, while the other groups show signs of slowing down, with a slight decrease of 1-4%, signaling the saturation of the domestic market.

In addition to the four main groups above, statistics also show that the Singapore market also has import demand for the following groups: live fish; processed fish; processed/unprocessed molluscs; and processed/unprocessed aquatic invertebrates except crustaceans/molluscs.

Among them, the group with the highest import value in the first 3 months of the year was the group of molluscs, processed/unprocessed, reaching over SGD 29.8 million. The group with the lowest import value was the group of aquatic invertebrates, processed/unprocessed, excluding crustaceans/molluscs, reaching only over SGD 5.7 million.

Classifying and processing tuna products for export. (Photo: Vu Sinh/VNA)

This is also the group that is witnessing a sharp decrease in demand in the Singapore market, down 15.6% in import value compared to the same period in 2024 (the first 3 months of 2024 also decreased by nearly 24% compared to the same period in 2023).

Regarding partners, in the first 3 months of 2025, Malaysia and Indonesia were the largest and second largest seafood suppliers to the Singapore market with import values currently reaching SGD 37.4 million and SGD 32.2 million, respectively, accounting for 13.2% and 11.4% of the total market share of imported seafood in this market.

For seafood from Malaysia and Indonesia, Singapore currently focuses on importing two main groups: processed/unprocessed crustaceans and fresh/chilled fish, excluding fish fillets and fish meat.

Norway is currently the third largest seafood supplier to the Singapore market, with imports to Singapore reaching SGD 30.4 million, accounting for 10.7% of the market share. Singapore currently focuses on importing fresh/chilled fish, except for fish fillets and fish meat from Norway.

This is also a group of imported seafood in which Norwegian products are maintaining a dominant position in the Singapore market.

Vietnam is the 4th seafood supplier in the Singapore market and currently holds the highest market share in the group of chilled/frozen fish fillets and fish meat, reaching SGD 14 million in the first 3 months of the year, up 2.5% over the same period in 2024, accounting for 27.8% market share.

Currently, Vietnam has two other groups with significant import value to the Singapore market, which are processed/unprocessed crustaceans and processed/unprocessed molluscs, reaching SGD 5.6 million and SGD 4.9 million respectively, accounting for 8.3% and 16.5% of the market share, respectively.

In the first 3 months of 2025, the overall seafood import value from Vietnam to Singapore reached 28.7 million SGD, an increase of 19.3% over the same period in 2024, accounting for 10.1% of the total seafood import market share in this market.

To support Vietnamese seafood enterprises in finding and expanding alternative markets to the US market affected by tariffs, in early April, the Trade Office had a meeting with the leaders of the Vietnam Association of Seafood Exporters and Producers (VASEP). Accordingly, VASEP and the Singapore Trade Office agreed to continue to coordinate in providing local information, connecting trade between Vietnamese and Singaporean seafood enterprises, enhancing trade promotion, participating in seafood exhibitions in Singapore, increasing the presence of Vietnamese goods in Singapore to support enterprises in finding more partners, expanding the market share of Vietnamese seafood products in Singapore in the coming time.

According to the Vietnam Trade Office in Singapore, in the coming time, the scale of the imported seafood market in Singapore is expected to remain stable. Vietnam will be able to continue to maintain a good market share in the group of fish fillets and chilled/frozen fish meat.

Packaging processed shrimp products for export. (Photo: Hong Dat/VNA)

However, for other groups, especially the two groups of processed/unprocessed crustaceans and processed/unprocessed mollusks, in addition to competition from seafood from Malaysia and Indonesia, Vietnamese seafood will also have to continue to compete with seafood from a number of countries such as China, Japan and India.

The Vietnam Trade Office in Singapore recommends that Vietnamese seafood enterprises need to focus on controlling the quality of goods, regularly updating local regulations, improving product packaging designs, and enhancing product quality and productivity to increase competitiveness with similar products from countries in the region./.

(Vietnam News Agency/Vietnam+)

Source: https://www.vietnamplus.vn/viet-nam-lot-top-4-doi-tac-lon-nhat-xuat-khau-thuy-san-vao-singapore-post1034905.vnp