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 ASEAN market, Singapore is standing out thanks to the strong growth in imports of Vietnamese pangasius in the first 3 months of this year, despite the context of inflation and reduced imports in the world market. Singapore is considered as the bright spot of Vietnam pangasius exports in 2023

(seafood.vasep.com.vn) In February 2023, Vietnam's shrimp exports to Australia recorded a growth signal, reaching $19 million, up 7%. However, shrimp exports to this market in January 2023 decreased sharply due to the Lunar New Year, so by the first half of March 2023, shrimp exports to this market reached 36 million USD, down 31% compared to the same period in 2022.

(seafood.vasep.com.vn) Thuan Phuoc Corporation set a business target in 2023 with a total revenue of 2,300 - 3,000 billion VND; export turnover reached from 100 to 130 million USD.

(seafood.vasep.com.vn) In 2023, SEAPRIMEXCO (CAT) set the pre-tax profit target of VND 30 billion in 2023; export turnover reached 32,000 USD; dividend in 2022 at the rate of 10% cash.

Australia used to be Vietnam's 9th largest seafood import market in 2018. The CPTPP agreement came into force in 2019. After 4 years, by 2022, Australia has become the 6th largest single market for Vietnamese seafood.

(vasep.com.vn) On the afternoon of April 10, 2023 in Hanoi, representatives of VASEP welcomed a delegation of Australian Parliamentarians led by Senator Glenn Sterle.

(seafood.vasep.com.vn) The recovery of China's economy will contribute to the growth of Nam Viet JSC's pangasius export output in 2023, offsetting the decline from other export markets of the enterprise.

(vasep.com.vn) In the first two months of 2023, China imported over 561 thousand tons of seafood, worth nearly 2.7 billion USD, down 3% over the same period last year. Of which, fresh/live/chilled seafood reached nearly 48 thousand tons, worth USD 887 million, accounting for 33% of the total value of seafood imports to this country.

(seafood.vasep.com.vn) In the first two months of 2023, Russia is among many markets with negative growth in imports of Vietnamese pangasius, due to the impact of inflation and a decrease in demand.

(seafood.vasep.com.vn) Accounting for 14% of Vietnam's total shrimp exports, South Korea is one of the important export markets of Vietnamese shrimp products. However, Vietnam's shrimp exports to this market are implemented under the quota mechanism, if exports exceed the quota, the import tax rate can be up to 20%.

(seafood.vasep.com.vn) According to statistics of Vietnam Customs, Vietnam's exports of fish cakes and surimi tend to recover in February. The export value of fish cakes and surimi this month reached nearly 23 million USD, up 8%. However, this increase is not enough to offset the decrease in January, so in the first 2 months of 2023, Vietnam's export turnover of fish cakes and surimi still decreased by 21% compared to the same period in 2022, reaching more than 42 million dollars.

(seafood.vasep.com.vn) Vietnam’s seafood exports in February 2023 reached 610 million USD. Pangasius contributed nearly 26% with a value of 156 million USD. Compared to the same period, although pangasius exports are still 9% lower, but in the context of inflation that reduces demand and lowers import prices, the sales of February is also a positive sign.

(seafood.vasep.com.vn) In the first two months of 2023, shellfish products (clams, snails, oysters, scallops) contributed nearly 2% of Vietnam's total seafood export turnover, with a value of over 19 million USD. Particularly in February, exports of shellfish increased by 39% over the same period last year to reach 10.4 million USD.

Seventeen Vietnamese enterprises are participating in the 2023 Seafood Expo North America, which opened at the Boston Convention & Exhibition Centre in Massachusetts state on March 12.

(seafood.vasep.com.vn) In February 2023, Vietnam's shrimp exports reached $194 million, down 21% over the same period. Accumulated in the first 2 months of this year, shrimp exports reached 335 million USD, down 40%.


  • Vinh Hoan
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