GENERAL INFORMATION

In Vietnam, the fishery sector plays an important role in the national economy, accounting for about 4-5 percent of Gross Domestic Product (GDP) and about 9-10% of national export revenue.

More than 4 millions of people working in the fishery and the growth in production have attributed to the fish exports. Thanks to strongly increase in many years, Vietnam ranks among the top ten seafood suppliers and its seafood products are exported to 170 markets in the world.

Shrimp, pangasius, tuna, squid and octopus are main seafood products exported by the country. In which, shrimp exports create about US$ 3.5 – 4 billion, make up 46-50% of the total seafood sales of Vietnam. Earnings from pangasius reached at US$ 1.7 – 1.8 billion (25% of the total) and exports from Tuna and Cephalopods are US$ 450 – 550 million for each.

Exports to the U.S, Japan, EU, China and South Korea make up 75% of Vietnam’s seafood sales to the wolrd.

5 advantages for Vietnam seafood exports:  

(1)  High commitment and participation from Government, Industry and companies for food safety, environment  and social responsibility;

(2)  Able to supply the big volume and safe quality and stable seafood products;

(3)  Meet all the customers’ requirements, incl. the vertical linkage (integration) for each species sector;

(4)  Vietnam is one in few countries in the world which has the good and stable labor resource; 

(5)  Vietnam has Agreements / FTAs with many countries and territories and has advantages both in product quality and im-ex tax.  

Agro-forestry-aquatic product exports hit 13.7 billion USD

The export value of agricultural, forestry and aquatic products reached 13.7 billion USD in the first five months of 2017, a year-on-year increase of 9.5 percent.

In May alone, the country’s export earnings from these products were estimated at 2.8 billion USD, reported the Ministry of Agriculture and Rural Development.

The five-month increase was buoyed by a surge of 10.4 percent in the export value of aquatic products to 2.8 billion USD, including 618 million USD in May.

The US, Japan, China, and the Republic of Korea (RoK) were major import markets of Vietnamese aquatic products, accounting for 53.5 percent of the sector’s total export value.

Vegetable and fruit exports surged 38 percent year on year to 1.38 billion USD, with 344 million USD earned in May.

The export turnover of wood and wooden products also climbed 9.9 percent from the same period last year, reaching 2.9 billion USD. In May alone, Vietnam exported 513 million USD worth of wood and wooden products.

The markets saw remarkable surges in the export value of wood and wooden products were China (35.6 percent), the US (16.1 percent), the Republic of Korea (14.7 percent) and German (11.2 percent).

Vietnam exported 538,000 tonnes of rice for 245 million USD in May, raising the five-month volume to 1.3 million tonnes and value to 1 billion USD, up 1.6 percent and 1.2 percent year on year, respectively. China remained the top importer of Vietnamese rice.

Coffee export saw a drop of 15.9 percent in volume, but an increase of 11 percent in value in the January-May period to 693,000 tonnes and 1.57 billion USD. In May alone, Vietnam shipped 105,000 tonnes of coffee abroad for 233 million USD.

According to the ministry, Vietnam’s import value of agro-forestry-aquatic products in the first five months was estimated at 11.02 billion USD, up 23.6 percent year in year, including 2.52 billion USD worth of products imported in May.

Source: VNA


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