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.

Vietnam hopes for over 10 bln USD trade with seven markets

15:37 06/30/2017

Vietnam expects to record bilateral two-way trade of over 10 billion USD with China, the Republic of Korea, the US, Japan, Thailand, Taiwan (China), and Malaysia in 2017.

According to Vietnam Customs, trade between Vietnam and these markets reached 226.7 billion USD in 2016, making up 64.6 percent of Vietnam’s total trade with foreign countries. The figure is forecast to increase to 281.7 billion USD in 2017.

Vietnam’s trade with China is anticipated to top 89.3 billion USD in 2017, representing a year-on-year rise of 24.2 percent, while that with the Republic of Korea is estimated at 63 billion USD, (up 45.1 percent); the US, 53.4 billion USD (compared to 47.2 billion USD in 2016); and Japan, 34.6 billion USD (up 16.6 percent).

Trade between Vietnam and Thailand this year is likely to reach 15.3 billion USD (up 22.5 percent); Taiwan 15.3 billion USD (up 13.3 percent); and Malaysia, 10.75 billion USD (up 27.1 percent).

Source: VNA