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-fishery export value increases

The export value of agricultural, forestry and fishery products is estimated to see a year-on-year increase of 1.4% to US$4.3 billion in the first two months of 2017.

The value in February alone is estimated at 1.9 billion USD, according to the Ministry of Agriculture and Rural Development.

Major farm products saw a year-on-year increase of 8.8 percent to 2.4 billion USD thanks mostly to a surge in coffee export, while seafood export value hit 844 million USD, down 3.1 percent from the same period last year.

Meanwhile, the forestry industry saw a slight increase of 0.3 percent in export value to 993 million USD in February.

In the first two months, coffee exports decreased by 7.3 percent in volume to 273,000 tonnes but went up 22.3 percent in value to 616  million USD compared with the same period last year.

Rice exports plummeted in both volume and value. Shipments dropped by 17.2 percent in volume to 799,000 tonnes and by 40.6 percent in value to 248 million USD against the same period last year.

Similar drops were witnessed in other farming products, such as tea, cashew nuts, pepper; falling 6.9 percent, 12 percent, and 36.3 percent, respectively in export value; and 1.4 percent, 26.2 percent, and 19.8 percent, respectively in volume.

Source: VNA


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