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) Vietnam's seafood exports from 2018 to now have been affected by factors such as falling demand and import prices in some key markets, technical barriers and taxes. especially the Covid epidemic, which disrupted the supply and consumption chains in the past 2 years. However, in that context, Vietnam's seafood exports did not plunge too deeply because the pedestal was FTA agreements from 2018 up to now, including the CPTPP and EVFTA agreements.

(seafood.vasep.com.vn) Ca Mau Provincial People's Committee and Minh Phu Seafood Corporation have just held the Groundbreaking Ceremony of the Minh Phu Seafood Processing Factory project chain at Khanh An Industrial Park, U Minh District, Ca Mau Province.

(seafood.vasep.com.vn) According to a report by the Can Tho Fisheries Sub-Department, the total output of farmed and caught seafood in the first nine months of 2021 reached 124,757 tons, equaling 82% over the same period, reaching 62% of the 2021 plan.

(seafood.vasep.com.vn) The rice-shrimp farming model is mainly concentrated in the coastal provinces such as Kien Giang, Soc Trang, Bac Lieu, Ben Tre, Ca Mau, etc. is giving high economic efficiency. Every year, farmers earn two sources of rice and shrimp, about 4-4.5 tons of rice/ha/crop and 0.45-0.5 tons of shrimp/ha/crop.

(seafood.vasep.com.vn) Vietnam's seafood exports to the US in the third quarter of 2021 slowed down compared to the second quarter, but still increased by 5.7% compared to the same period last year. By the end of September 2021, Vietnam's seafood exports to the US reached US$1.45 billion, up 24% over the same period last year.

(seafood.vasep.com.vn) Vinh Hoan Corp has just published a report for September 2021 with a revenue of VND 658 billion, bringing the total export revenue of the third quarter of 2021 to VND 2,128 billion, up 17% over the same period in 2020.

(seafood.com.vn) In the first 9 months of 2021, Vietnam's tuna exports reached nearly 521 million USD, up 9% over the same period in 2020. Up to now, a number of industrial parks in the Central and South Central regions have started for businesses. working again.

(seafood.vasep.com.vn) Thanks to good growth in the first 7 months of this year, the EU has surpassed Thailand to become the third largest import market of Vietnam's squid and octopus, accounting for 10.8% of the total value. Export of squid and octopus from Vietnam. In August 2021, due to the impact of the Covid-19 epidemic, Vietnam's exports of squid and octopus to the EU as well as most markets decreased. However, from September, exports are recovering thanks to the policy of easing social distancing to restore production.

(vasep.com.vn) While Vietnam's tuna exports to main markets mostly decreased in August 2021, tuna exports to Mexico increased by nearly 263% over the same period in 2020 and reached the level almost equivalent to August 2019, the time before the pandemic. Previously, after a continuous decline in the first quarter, Vietnam's tuna exports to this market tended to grow continuously at a high level since April. Cumulatively in the first 8 months of 2021, the export value of tuna to this market reached more than US$ 9.3 million, an increase of 97% over the same period in 2020. With this result, Mexico becomes a promising market for Vietnamese tuna.

(seafood.vasep.com.vn) In the first eight months of 2021, the total value of Vietnamese pangasius exports to the Middle East market increased by 25.18% over the same period last year. In 2021, many pangasius enterprises have shifted their exports to the Egyptian and UAE markets.

(seafood.vasep.com.vn) VDSC Securities Company predicts that both revenue and profit in the third quarter of Vinh Hoan Joint Stock Company will grow by double digits compared to the same period last year. In which, revenue from pangasius fillet segment (which contributes over 67% of total revenue) increased strongly thanks to the average selling price and recovery in volume.

Vietnam’s aquatic products have gained the favour of Australian consumers, Secretary of the Australian Department of Agriculture, Water and the Environment Andrew Metcalfe told a workshop on October 1.

(seafood.vasep.com.vn) Thanks to a lot of efforts, up to now, Soc Trang shrimp industry has basically overcome the challenges during the period of implementing social distancing to ensure the prevention and control of COVID-19 . The difficulties that are solved in time and the optimistic signals of consumer demand in both domestic and foreign markets are good opportunities for shrimp farmers and seafood processing companies in this locality to restore the production chain in the remaining months of the year.

(seafood.vasep.com.vn) In August 2021, Vietnam's sea product exports reached 224.8 million USD, down 22% compared to July 2021 and down 24% compared to August 2020. In the first eight months of the year, marine product exports reached $2.1 billion, accounting for 38% of the country's total seafood export value and up 7% over the same period in 2020.

(seafood.vasep.com.vn) While the export of some marine products decreased significantly in August 2021, Vietnam's bivalve mollusk exports still increased strongly by 36.2%, reaching over 13.2 million dollars. In the first 8 months of the year, the export of bivalve molluscs reached USD 86.8 million, up nearly 40% over the same period last year. In which, clam is the key product, accounting for 72% of the value, reaching 62.6 million USD in 8 months, in August alone increased 75% to 11.5 million USD.


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