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.  

Export potentials

(seafood.vasep.com.vn) In the first 4 months of 2022, Vietnam's shrimp exports to Australia reached US$95 million, up 74% over the same period last year and reaching the highest growth compared to the same period in previous years.

(seafood.vasep.com.vn) Currently, there are nearly 30 Vietnamese pangasius enterprises exporting to the Colombian market. However, in the first four months, pangasius exports volume into this market didn’t come up to the expectations of many enterprises.

(seafood.vasep.com.vn) After reaching a record of over $1.1 billion and a growth rate of over 50% in April 2022, entering May, Vietnam’s seafood exports could not maintain a heated growth but still hit the $1 billion mark. This number is 27% higher than the same period last year.

(seafood.vasep.com.vn) Minh Phu Seafood Corp announced that the company aims at accounting for 25% of the world shrimp market share by 2045. This goal is projected to be achieved by Minh Phu through short, medium and long-term strategies, particularly the 2021-2025 strategy with the key objective being building a green and clean and sustainable shrimp value chain of Vietnam, with competitive prices compared to India, Indonesia and Ecuador, improving processing productivity and reducing COGS.

(seafood.vasep.com.vn) In April 2022, the total export of Vietnam's marine products reached nearly USD 377 million, up 24% over the same period in 2021. In the first 4 months of 2022, exports of these products reached over USD 1.3 billion, up 26% over the same period last year. Currently, marine product exports account for 35% of the country's total seafood export value.

(seafood.vasep.com.vn) Vietnam's shrimp exports in April 2022 reached more than US$442 million, up 47% over the same period last year. Accumulated in the first 4 months of this year, shrimp export turnover reached USD 1.4 billion, up 45% over the same period. Shrimp export turnover in the first 4 months of this year reached a record compared to the same period in previous years.

(seafood.vasep.com.vn) The pangasius industry of the southern province of Dong Thap has now expanded its export markets to 134 countries, including high-end markets such as Europe and the US.

(seafood.vasep.com.vn) Following the growth in the fourth quarter of 2021, Vietnam's crab exports continued to grow well in the first quarter of 2022. The value of crab exports in this quarter reached nearly USD 52 million, up 62% over the same period in 2021. This is the highest level in the past 5 years, doubling compared to the same period in 2019, the time before the Covid-19 pandemic.

(seafood.vasep.com.vn) In this return to the aquatic feed segment, in addition to optimizing profits for pangasius fillets, Vinh Hoan set an ambition to bring pangasius to the Sushi table.

The Food Safety and Inspection Services (FSIS) under the United States Department of Agriculture has recognised six more Vietnamese pangasius processing factories that are eligible to export products to the US, raising the number of establishments to 19, according to the Ministry of Agriculture and Rural Development’s National Agro-Forestry-Fisheries Quality Assurance Department (NAFIQAD).

(seafood.vasep.com.vn) At the Annual shareholders meeting of 2021, CL-FISH CORP said, the company had planned to reach net revenue of 1,400 billion VND and profit before tax of 80 billion VND. However, it only achieved 86.6% and 59.7% respectively of the target. The company had also set a target of exporting 17,000 tons of finished pangasius with a total value of 40 million USD, but the actual result in 2021 only achieved 61% and 62.5% of the plan.

(seafood.vasep.com.vn) Businesses in Khanh Hoa province are increasing the purchase of tuna for processing to export to the US and EU markets.

(seafood.vasep.com.vn) The report on Vietnam's seafood exports - a quarterly publication of VASEP, reflects a full and detailed picture of seafood production and export in general and each fishery industry in particular (including: shrimp, catfish, tuna, cephalopods, shellfish, crabs, surimi...).

(VAN) An Giang province aims to create a breakthrough for the pangasius industry by attracting high-tech investment in production and processing.

(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam tuna exports in March 2022 continued to grow well at 58% y-o-y, reaching 104 million USD, bringing the total tuna export value in the first 3 months of this year to the highest level in the past 5 years.


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