(seafood.vasep.com.vn) After 10 years of implementing the Resolution of the 7th plenum of the 10th Party Central Committee on agriculture, farmers and rural areas, Vietnam’s seafood production and exports increased sharply, in which the output increased by 60%, the export value rose by 100%.
The country's seafood output increased by nearly 60% from 4.6 million MT in 2008 to 7.3 million MT in 2017, the average annual growth was 5%. Of that, aquaculture production accounted for 53%, capture output made up 47%.
Aquaculture output increased by 57% from 2.4 million MT to 3.8 million MT, the average annual growth was 5%. Aquaculture activities were mainly in the Mekong Delta (accounting for 95% of total pangasius production and 80% of total shrimp production)
Compared with 10 years ago, the seafood export turnover doubled from US$4.5 billion in 2008 to US$9 billion in 2018 with the average annual growth rate of 7%.
Of that, aquaculture (including 2 main species of shrimp and pangasius) took up 65-70% of seafood export value.
Shrimp exports accounted for the largest share with the highest and most stable growth. After 10 years, shrimp export turnover increased by nearly 2.5 times from US$1.6 billion to nearly US$3.9 billion with the average annual growth of 9%. Shrimp exports tended to account for a larger proportion of total seafood exports: from 36% to 50%.
Pangasius export value increased by 50% from US$1.4 billion in 2008 to about US$2.2 billion in 2018 with the average annual growth of 4%. However, the proportion decreased from 32% to 21%.
Exports of marine products picked up 30- 35% of total seafood exports with the unstable growth. The export turnover doubled from US$1.4 billion in 2008 to nearly US$3 billion in 2018 with the average annual growth of 7.5%.
Seafood is the fifth largest export item behind telephone, textiles, electronics, and footwear. Seafood accounted for 4-5% of the total export value of the country.
The fisheries brings over 4 million jobs to people. In particular, the processing and seafood export sector brings jobs to about 300,000 workers.
Resolution No. 24/2008/NQ-CP on 28th October 2008, promulgating the Government's Action Program to implement the Resolution of the 7th plenum of the 10th Party Central Committee on agriculture, farmers and rural areas, including the Aquaculture Development Scheme until 2020, approved by Decision 332/QD-TTg dated on 3rd March 2011. Accordingly, by 2020, aquaculture output expected to reach 4.5 million MT on an area of 1.2 million hectares; the export turnover expected to hit US$5.0-5.5 billion, creating jobs for about 3.5 million people.
Thus, by 2018, Vietnam’s seafood exports have exceeded 51% of target. Based on the current situation and supply - demand in the country and world markets, Vietnam's seafood exports by 2020 forecasted to touch about US$11.5 billion, doubling the target in Decision No. 332/QD-TTg on 3rd March 2011.