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) The Seafood Expo North America, which has just taken place from March 12-14, was the outstanding event in March 2023. The event has attracted hundreds of businesses around the world, including 17 enterprises from Vietnam.

(seafood.vasep.com.vn) After a continuous decline in the fourth quarter of 2022, Vietnam's exports of crabs and other crustaceans in the first two months of 2023 have not shown any signs of recovery. Crab export turnover in the first 2 months of 2023 reached nearly 19 million USD, down 2% compared to the same period in 2022.

(seafood.vasep.com.vn) In the first two months of 2023, Germany was among the few markets that recorded positive growth in imports of Vietnamese pangasius. While pangasius exports to the top 10 markets all decreased by 8% - 60% over the same period, Germany - the 9th ranked market still maintained a growth rate of 81%.

(seafood. vasep.com.vn) In January 2023, the volume of pangasius exported to Brazil reached 1,194 tons, the lowest level since May 2022. The average price of Vietnamese pangasius exports to Brazil in January reached 3.06 USD/kg, up 3% compared to 2.98 USD/kg in the same period last year. Compared with the same period, the volume of pangasius exported to Brazil decreased by 79%.

(seafood. vasep.com.vn) In January 2023, Japan was one of the few tuna import markets of Vietnam that maintained a good growth rate. Vietnam's tuna export value to this market reached nearly 2.3 million USD, up 38% over the same period in 2022.

(seafood.vasep.com.vn) Inflation and economic recession are causing the export of most of Vietnam's tuna groups in January 2023 to decrease sharply. However, the export of other processed tuna products HS code 16, mainly frozen steamed tuna loin, increased by 25% over the same period in 2022 and became the second largest exported tuna products of Vietnam.

(seafood.vasep.com.vn) Accounting for nearly 50% of the national clam production, Thai Binh province is calling for investment in a project of a clam processing and processing factory with a capacity of 70,000 tons/year.

(seafood.vasep.com.vn) The UK is among the very few markets that recorded positive growth in seafood imports from Vietnam in the first 2 months of 2023. While exports to the top 10 largest markets all decreased by 18 - 50% over the same period, only the UK - the 6th largest market, still maintained an increase of 22%.

(seafood.vasep.com.vn) Typical representatives of Vietnam's seafood industry in key products such as pangasius, shrimp and seafood all attended the fair, in addition to the presence of new businesses participating for the first time.

(seafood.vasep.com.vn) The general context of January, with the New Year holidays and the Lunar New Year, inevitably caused the export of Vietnamese goods to decrease over the same period. Particularly, seafood exports decreased by nearly half to only USD 456 million. Besides, inflation and economic recession caused orders from major markets to drop sharply.

(seafood.vasep.com.vn) After a sharp decline in January, seafood exports in the first half of February 2023 increased by 42% over the same period. The total seafood export value in February reached about 662 million USD, a slight increase of 4% compared to the same period in 2022.

(seafood.vasep.com.vn) Vinh Hoan JSC approved the plan to buy land to fund aquaculture in An Giang province.

(seafood.vasep.com.vn) Vietnam's exports of cephalopod in January 2023 were estimated at US$65.8 million, up 4% over the same period in 2021. Export of this item is expected to reach about US$875 million in 2023, an increase of 15% compared to 2022.

(seafood.vasep.com.vn) Many unexpected events affected the operation of the seafood industry in 2022. However, in danger lies opportunity, the industry has overcome a difficult period and achieved unexpected results. Many seafood exporters have had a bumper business season.

(seafood.vasep.com.vn) In January 2023, following the trend of the last quarter of 2022 plus the Lunar New Year holiday, Vietnam's tuna exports continued to decline sharply. Tuna export turnover this month reached just over 50 million USD, down 43% compared to the same period in 2022.


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