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

The southern province of Ba Ria-Vung Tau has ordered its Department of Agriculture and Rural Development to get tougher on illegal fishing in foreign waters by local fishing ships and their owners.

Farmers in the Mekong Delta province of Tien Giang are raising the fry of high - value aquatic species on an area of more than 6,000ha this year, up marginally from last year, according to the province’s Department of Agriculture and Rural Development.

The Mekong Delta province of Kien Giang has planned to further promote sustainable marine aquaculture in line with the “Strategy for the Sustainable Development of Vietnam’s Marine Economy by 2030 with a Vision to 2045”.

Dozens of households in the Mekong Delta province of Tra Vinh have begun sea crab breeding this year, with 37 million baby crabs on a total area of 7,330 ha.

A draft master plan for the Mekong Delta for 2021-2030 and vision to 2050, recently released to collect public feedback, views climate change as not only a challenge but also an opportunity for local development.

Despite facing difficulties due to the COVID-19 pandemic, seafood exports last year were estimated at US$8.58 billion, the same as in 2019. The Vietnam Association of Seafood Exporters and Producers (VASEp) expects them to increase by 5 per cent to $8.8 billion this year aided by many positive factors.

(seafood.vasep.com.vn) In 2020, the country's seafood production has reached 8.4 million tons, a slight increase of 3% compared to 2019, of which aquaculture accounts for 54% with nearly 4.6 million tons. accounting for 46% with over 3.8 million tons. Seafood exports reached 8.4 billion USD, down 1.9% compared to 2019, of which aquaculture (shrimp, pangasius) accounted for 62% with 5.2 billion USD, captured seafood accounted for 38% with 3.2 billion USD.

The Mekong Delta province of Tra Vinh is taking various steps to develop climate change-resilient aquaculture, setting its sights on expanding the local aquaculture area by 2,500 ha to reach 40,000 ha by 2030.

(seafood.vasep.com.vn) In 2020, Vietnam's seafood exports brought in $ 8.4 billion, down 1.9% from 2019, of which farmed seafood (shrimp, pangasius) accounted for 62% with $5.2 billion, capture fisheries accounted for 38% with US$ 3.2 billion.

(seafood.vasep.com.vn) Free trade agreements (FTAs) that come into effect and put into effect in 2020 have created favorable conditions for our country's goods to be exported abroad in the past year. After falling continuously in the first half of the year due to the impact of the Covid-19 epidemic, Vietnam's seafood exports started to recover from July. Especially, thanks to the Vietnam - EU Free Trade Agreement (EVFTA). Effective from August 2020, seafood has continued to have double-digit growth since September.

(seafood.vasep.com.vn) The 2020 was a turbulent year for the world economy with many nations suffering tremendous losses due to the COVID-19 pandemic. Vietnam has been less affected by the pandemic thanks to extraordinary efforts of the industry. Notwithstanding, everything from life to socio-economic, education, and national security has undergone many months of upsetting. Vietnam's seafood industry has been affected by various issues. Continued difficulties from key export markets and natural disasters have caused both farmers and businesses to worry to fight for "survival". At the end of the year, the total seafood export value of Vietnam reached 8.41 billion USD, slightly down 1.9% compared to 2019. This result reflects the tireless efforts of seafood enterprises in the light of the pandemic crisis.

Vietnam is one of the biggest producers of ASC certified seafood with hundreds of certified farms, but one company still managed to achieve a first for the country last year.

(seafood.vasep.com.vn) Vietnam sets a target achieving seafood export turnover of US$14-16 billion by 2030 and creates jobs for 3.5 million workers. By 2045, fisheries will be a modern commercial economy, a deep seafood processing hub, which belongs to the group of three leading countries in the world.

(vasep.com.vn) In 2020, the Covid-19 pandemic spread out all over the world that had a tremendous impact on the world tuna industry in general and the Vietnamese tuna industry in particular. Despite the difficulties, Vietnamese tuna processing and exporting enterprises have still been making efforts to overcome drawbacks.

With the average seafood import demand of 4.1-4.5 billion USD/year, Vietnam seafood has great room to increase exports to the UK market thanks to the push from the UKVFTA Free Trade Agreement.


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