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 Kien Giang aims to resolutely minimise and end illegal, unreported and unregulated (IUU) fishing, develop and implement a project on consolidating and rearranging fishing vessels in the province to provide stable work for fishermen, ensuring sustainability in preventing IUU fishing.

The European Commission (EC)'s unremoved yellow card warning is one of the major challenges for Vietnam's seafood exports.

(seafood.vasep.com.vn) The demand recovery in two major markets of the US and EU and sharp increases in exports to potential markets has brought seafood export turnover of over US$4.1 billion for the country in the first half of this year. In which, exports in June 2021 continued to increase by 20% over the same period last year, reaching 865 million USD. With the current growth momentum, Vietnam seafood exports in 2021 can reach the target of 9 billion USD.

According to the People's Committee of Bac Lieu province, in the first 6 months of 2021, the weather is quite favorable for aquaculture, so shrimp develops well, many high-tech shrimp farming models have brought high economic efficiency. Accordingly, there are 7 companies and 472 households developing high-tech agricultural models with an area of 1,126.26ha; The average yield of farmed shrimp is nearly 23 tons/ha.

In the first 6 months of 2021, shrimp export turnover of Ca Mau province - a key seafood province in the Mekong Delta, is estimated at 400 million USD, up 16.6% over the same period in 2020. Forecast in 2021, shrimp export of the province reached over 1 billion USD.

Minh Phu Hi-tech Agriculture Co., Ltd was established in October 2018 with the main activities of producing, cultivating, processing and exporting aquatic products, importing processing materials for export.

(seafood. vasep.com.vn) By the end of April 2021, China is the 5th largest single cephalopod import market of Vietnam, accounting for 6% of the total export of these products. . In the past 3 years, Vietnam's cephalopod exports to China have tended to grow continuously. Export value in 2020 increased by nearly 61% compared to 2019. In 2021, exports to this market have continued to grow.

(seafood.vasep.com.vn) Over the past 5 years, Canada has always been one of the 10 main tuna export markets of Vietnam. Vietnam's tuna exports to this market increased continuously at double-digit rates from 2017 until now, in the first 4 months of this year alone, the value of Vietnam's tuna exports to this market increased by nearly 58%. 12 million USD compared to the same period last year.

(vasep.com.vn) Thanks to production stabilization, the total value of Vietnam's seafood exports in the first five months of the year still increased by 13.8% over the same period last year, reaching 3.27 billion USD. In which, shrimp export value reached 1.31 billion USD, up 11.8%; Pangasius export value reached US$637.8 million, up 14.7% of tuna reaching US$291.5 million, up 21% over the same period in 2020.

Clam is one of the main species of aquaculture in Nam Dinh northern province. The province currently has more than 2,000 ha of clam farming, of which there are 2 large clam farming areas in Giao Thuy district with 1,665 ha, Nghia Hung district with 500 ha, annually supplying from 35 to 40 thousand tons of commercial clams and tens of billions of clam seed to the market.

(seafood.vasep.com.vn) Vietnam's seafood exports in the first five months of this year reached nearly $3.3 billion, up 14% over the same period. In general, seafood export turnover is still concentrated in the Mekong Delta provinces where the source of raw materials for aquaculture and exploitation is concentrated.

On the afternoon of June 11, 2021, the Aquaculture Stewardship Council (ASC) and the Vietnam Association of Seafood Exporters and Producers (VASEP) jointly organized a webinar "Discuss on a number of contents in the ASC Standards - Cooperation Initiative between ASC and VASEP”.

According to a report by the Ben Tre Fisheries Sub-Department, in May 2021, the province's total aquaculture area is estimated at 2,790 hectares, up 66.6%, the total aquaculture production is estimated at 35,726 tons, an increase of 44 % compared to the same period last year.

(seafood.vasep.com.vn) After increasing 22% to 749 million USD in April 2021, Vietnam's seafood export continued to recover with a more optimistic increase in May, up 24% to nearly 790 million USD. . Accordingly, the cumulative export results in the first 5 months of the year were also better, up 14% to reach USD 3.27 billion.

(seafood.vasep.com.vn) In the first 4 months of 2021, the total value of Vietnamese shrimp exports to the US market reached US$198 million, up 24.8% over the same period last year. Up to now, the US continues to be the leading whiteleg shrimp export market of Vietnamese seafood enterprises. In particular, in the first months of this year, Vietnamese enterprises sharply increased the export of dried shrimp and processed vannamei shrimp to the US market.


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