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.  

Aquatic export estimated at 8.5 billion USD in 2018

The Ministry of Agriculture and Rural Development’s Directorate of Fisheries has said it will strive to earn an export value of aquatic products of 8.5 billion USD this year, up 1.2 percent annually.

The total aquatic production is estimated at 7 million tonnes, down 3.8 percent year-on-year. Up to 3 million tonnes of which will be caught offshore and the remainder will be bred, down 13.3 percent and up 4 percent, respectively.

The sector also targeted that shrimp output in brackish water will hit 720,000 tonnes, marking a 13.1 percent rise while tra fish output will increase 4 percent to 1.3 million tonnes.

Acting Director General of the Directorate of Fisheries Nguyen Ngoc Oai said in order to achieve the above targets, the sector will closely watch weather conditions, maintain tiger prawn output and develop white-legged shrimp breeding in advantageous areas.

It will also arrange production in value chain, launch farming models up to VietGAP standards in combination with new rural development, build full procedures for seafood certification before export, and promote responsible fishing among businesses and farmers.

Last year, the total aquatic export earnings hit 8.3 billion USD, up 17.8 percent annually and 16.9 percent of the target. The total aquatic production volume and value reached 7.1 million tonnes and 212.360 trillion VND (9.43 billion USD), up by 5.5 percent and roughly 6.2 percent, respectively.

The combined volume of caught seafood hit 3.3 million tonnes while the remainder was bred.

VNA


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