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) 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.

(seafood.vasep.com.vn) In the first 10 months of 2021, Australia is one of the few markets with high triple-digit growth in Vietnam's tuna imports. According to statistics of Vietnam Customs, Vietnam's tuna exports to this market reached nearly $2.7 million, up 103% over the same period last year. Continuously from the beginning of the year, Vietnam's tuna export value has grown continuously.

(seafood. vasep.com.vn) CPTPP is the second largest market for Vietnam's imports after the US, accounting for 25% of Vietnam's total shrimp export value to shrimp markets. As of November this year, Vietnam's shrimp exports to the CPTPP market were estimated at US$905.2 million, down 0.2% over the same period. Vietnam's shrimp exports to the main markets in the CPTPP block tend to recover in the year-end period.

(seafood.vasep.com.vn) Ocean tuna is a key export product of Binh Dinh province's seafood industry. Therefore, this locality has constantly come up with solutions to help fishermen safely stick to the sea to catch. The Binh Dinh Ocean Tuna Production and Consumption Chain Project has and will help tuna products have stable output and high selling prices.

An Giang is one of the provinces with strengths in agricultural production, in which rice and fishery products are strategic commodities of the province, which is increasingly expanding in scale, improving quality, meeting the needs of consumption and export demand. In which, export pangasius fillet is one of the potentials for agricultural economic development of the province.

(vasep.com.vn) According to Customs statistics, by mid-November 2021, Vietnam's seafood exports reached US$7.52 billion, up 3.2% over the same period last year. Seafood exports in the first half of November 2021 recovered with a growth rate of 24%, it is estimated that in November, exports will reach about 875 million USD, up 18%. Accordingly, by the end of November 2021, seafood export is estimated at nearly 8 billion USD, up 3.7% over the same period in 2020.

(seafood.vasep.com.vn) On November 22, the first container of canned clam meat from Vietnam was exported to Europe with the quantity of 200,000 boxes.

(seafood.vasep.com.vn) According to Mr. Nguyen Trong Chanh - Director of Khanh Hoa Provincial Fisheries Sub-Department, the plan to implement the Vietnam Fisheries Development Strategy to 2030, with a vision to 2045 in the province, is oriented towards aquaculture development in the direction of commodity production, raising the value of key aquaculture species, associated with traceability to ensure raw materials for the processing and export industries.

(seafood.vasep.com.vn) EU is Vietnam's second largest shrimp import market, accounting for 15%. Since the beginning of the year, Vietnam's shrimp exports to the EU market have recorded a good growth rate. It is forecast that the EU's shrimp import demand in the last months of this year will continue to increase.

(seafood.vasep.com.vn) Canada is one of the five largest tuna export markets of Vietnam in the past three years. While tuna exports to large traditional markets such as the US and EU countries in 2021 are not stable, exports to Canada are on a good growth trend. In the first 9 months of 2021, the export value of tuna to this market increased by 22% over the same period to over 23 million USD.


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