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 January, 2022, Viet Nam's seafood exports brought in $872 million, recording a record-high revenue in the first month of the years. The 44% growth signaled a prosperous year for the seafood industry.

(seafood.vasep.com.vn) According to statistics of Vietnam Customs, Vietnam's tuna exports to the EU in 2021 were nearly equivalent to 2020, reaching US$144 million, up 6 %. However, tuna exports to countries in the bloc have changed and most notably to the French market.

(vasep.com.vn) Around 15 Vietnam’s leading fishery suppliers will be attending the Seafood Expo North America from the 13th to 15th of March, 2022 after two years of cancellation by the Pandemic.

(seafood.vasep.com.vn) Vietnam's seafood exports to the EU market in 2021 recorded a figure of over 1 billion USD, up 12%. Exports to most EU member countries increased. In which, the top 5 markets include the Netherlands, Germany, Belgium, Italy and France, accounting for 72%. Exports of all major products to the EU grew positively, except pangasius. In which, clam exports grew the most, up 42% and became the 4th largest seafood species in terms of export value to the EU.

(seafood.vasep.com.vn) In 2021, Vietnam exported seafood to nearly 170 markets. Only a few markets saw a decrease in seafood imports from Vietnam such as Japan, which decreased by nearly 7%, and China by 18%. Exports to other markets all grew positively such as the US increased by 27%, to the EU increased by 12%, South Korea increased by 5%, Australia increased by 16%, Russia increased by 21%. Exports to many other markets had a breakthrough growth such as Mexico up 49%, the Philippines up 66%, Israel up 41%, Brazil up 47%, Colombia up 73%...

(seafood.vasep.com.vn) On January 29, Head of Trade at the Vietnamese Embassy in Pakistan Nguyen Thi Diep Ha personally made deep-fried basa fish to introduce at the ASEAN Food Festival 2022 (Charity Bingo 2022) organized by the Women's Union of ASEAN countries and the Ministry of Foreign Affairs of Pakistan held in Karachi city.

(seafood.vasep.com.vn) In 2021, Vietnamese seafood exporters have experienced ups and downs because of the Covid epidemic. Accordingly, in the third quarter of the year, production and exports declined due to restrictive measures and social distancing to prevent the Covid-19 epidemic. However, after easing the social distancing restrictions under Resolution 128, seafood exports quickly recovered and increased sharply in the last quarter of the year, bringing the whole year export result to $8.9 billion, an increase of nearly 6%. compared to 2020.

Import and export activities at Mong Cai International Border Gate (Quang Ninh) are cleared again after the Tet holiday.

(seafood.vasep.com.vn) In 2021, seafood exports have increased mainly thanks to the form of fresh/frozen/dried products. The total value of exported processed seafood products (HS code 16) accounted for 28%, reaching nearly 2.5 billion USD, nearly equivalent to 2020. Meanwhile, live, fresh, dried and frozen aquatic products, surimi, fish cakes... (HS code 03) achieved export value of 6.4 billion USD, up 6.5% and accounting for 72% of total seafood export value.

(seafood.vasep.com.vn) Despite being heavily affected by Covid, which led to a series of high transportation costs, Sao Ta Food Joint Stock Company (FIMEX VN) still reported historically high profits after 26 years of operation. FIMEX VN ranks 6th among Vietnamese seafood exporters in 2021 and is the 4th largest shrimp exporter with sales of 166 million USD.

(seafood.vasep.com.vn) According to data of Vietnam Customs, Vietnam's exports of squid and octopus as of November 2021 reached over US$543 million, up 7% over the same period in 2020. Export of squid and octopus in December 2021 was estimated at over 60 million USD, up 10%. Accordingly, for the whole year of 2021, exports have witnessed over 600 million USD, up 7% compared to 2020.

(seafood.vasep.com.vn) Mr. Le Van Quang, Chairman of the Board of Directors, General Director of Minh Phu Seafood Joint Stock Company (MINH PHU SEAFOOD CORP) said that the application of "3 on-the-spot" production made the operating capacity of the factories of the company. Minh Phu in Ca Mau and Hau Giang dropped sharply, reaching only 25% of capacity. But thanks to the company's shift to large-sized shrimp production, the output has improved, reaching about 50%. The company is accelerating and expecting year-end orders.

2021 is considered by Sao Ta Food Joint Stock Company (FIMEX VN) to be the most successful year of shrimp farming in the company's 10-year history.

(seafood. vasep.com.vn) According to customs statistics, in November 2021, Vietnam's seafood exports reached over US$910 million, up 23% over the same period last year. Accumulated to the end of November, seafood exports reached about 8 billion USD, up 4% over the same period in 2020.

(seafood.vasep.com.vn) To help shrimp exporters and importers grasp the whole picture of Vietnam's shrimp production and exports and its position in the world shrimp industry picture over the past 6 years along with a forecast to 2025, VASEP releases its Industry Report. shrimp 2016-2021 and forecast to 2025.


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