In the first two months of 2023, cephalopod seafood accounted for 8% of the total exports of products from the South China Sea, with a value of over 89 million US dollars. In February of this year, the export value of cephalopod seafood increased by 37% year-on-year, reaching $47 million. In the export of cephalopod seafood, the proportion of squid is higher than that of octopus. Only fresh/live/frozen squid products (product code 03) saw a slight increase in export volume, while the remaining cephalopod seafood exports decreased, with the largest decrease being processed squid (product code 16), which decreased by 20%.

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South Korea is the largest export destination for Vietnamese cephalopod seafood, accounting for 35% of the total export volume. In the first two months of this year, the export value of Vietnamese cephalopod seafood to South Korea was 31 million US dollars, a year-on-year decrease of 3%. The main export products are cold cut octopus, frozen whole octopus, frozen processed octopus, peeled dried squid, frozen processed squid, and frozen sushi squid. Japan is the second largest export market for Vietnamese cephalopod seafood, with exports accounting for 26% of the total. In the first two months of this year, Vietnamese cephalopod seafood exports to Japan amounted to $23 million, a year-on-year increase of 6%.