In March 2022, Vietnam exported $35.35 million of aquatic products to Canada, which increased 24.7% from the previous month and 51.1% year on year, according to Vietnam's Foreign Trade Office, Ministry of Industry and Trade. In the first three months of 2022, Vietnam exported $95.3 million of aquatic products to Canada, increased 61.4% year on year.
Frozen shrimp is the main aquatic product exported by Vietnam to Canada, accounting for 64.3% of the total exports of this market. The following major exports are frozen catfish, frozen tuna and canned tuna.
In the first three months of 2022, the composition of Vietnamese seafood exports to Canada changed. Frozen shrimp and frozen catfish’s proportion increased. Compared to the same period in 2021, frozen tuna’s share of the total value of aquatic products exported to Canada increased , while canned tuna exports’ share decreased.
In the first two months of 2022, Canadian aquatic imports amounted to $485.3 million, increased 20.8% from the first two months of 2021, according to Canadian Customs. Among them, Vietnam is the fourth largest supplier of aquatic products to Canada, accounting for 7.1% of the total import of aquatic products to Canada. In the first two months of 2022, Canada's top three aquatic products suppliers were the United States, China and Chile.
Affected by Canada's population of nearly 38.3 million and immigration policy, the market demand for aquatic products is increasing. The average consumption of aquatic products in Canada is 9.14 kg/person/year. This would be a potential market for Vietnam's aquatic exports, especially since most of Vietnam's major aquatic products enjoy Canada's 0% import tax. According to the data of the Foreign Trade Office, in the future, the demand for aquatic products in Canadian market will continue to increase, and Vietnam's aquatic products export to Canada will continue to increase substantially.