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 2022, with seafood export turnover reaching 11 billion USD, Vietnam has become the third largest seafood exporter in the world.

(seafood.vasep.com.vn) On December 10, VASEP and seafood enterprises held a celebration of seafood export reaching 10 billion USD celebrating the successful results of a long journey conquering the world market for more than 20 years. 2022 is a year of many records for the seafood industry. Seafood exports broke a record of 11 billion USD, of which the shrimp industry reached a record sales of over 4.3 billion USD. Pangasius exports will reach 2.4 billion USD, a record high and record annual growth of 70%. Tuna also became a billion-dollar industry for the first time.

(seafood.vasep.com.vn) Vinh Hoan's 25-year journey has experienced many memorable milestones with impressive growth.

(seafood.vasep.com.vn) The seafood industry frankly recognizes the opportunities and challenges to keep its growth momentum in 2023.

(seafood.vasep.com.vn) On December 10, 2022 at the celebration of seafood export reaching 10 billion USD in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) announced the list of 30 excellent enterprises in 2022, in which there are 10 shrimp export enterprises.

(seafood.vasep.com.vn) 2022 is an impressive year for Vietnam's seafood industry. Although it is not yet the end of the year, Vietnam's seafood exports have reached the record of 10 billion USD, an increase of nearly 34% compared to 2021, completing early on the set target for 2022. To mark this significant milestone, on December 10, 2022, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a Celebration seafood exports reached 10 billion USD.

(seafood.vasep.com.vn) On December 2, 2022, the Ministry of Industry and Trade issued Decision No. 2615/QD-BCT approving the list of "Prestigious export business" in 2021. Accordingly, there are 46 seafood processing and exporting enterprises in this list.

(seafood.vasep.com.vn) Vietnam is considered as a country with strengths in agricultural and aquatic products and has good supply capacity for the Japanese market. Therefore, 30 enterprises from Japan have come to Vietnam to attend the Vietnam Food Expo 2022 to seek cooperation opportunities.

(seafood.vasep.com.vn) Vietnam's cephalopod exports in the third quarter of 2022 reached nearly $214 million, up 53% over the same period in 2021. Accumulated in the first 9 months of 2022, cephalopod exports reached $557 million, up 37%. In the third quarter of 2022, exports of cephalopod recorded the highest growth rate of 53% compared to the previous 2 quarters (up 35% and 24% respectively).

(seafood.vasep.com.vn) As of October 15, 2022, Vietnam's shrimp exports to Australia reached nearly $214 million, up 62% over the same period in 2021. This is the highest growth rate among the top main shrimp import markets of Vietnam.

(seafood.vasep.com.vn) In September 2022, Vietnam's shrimp exports reached 349 million USD, up 13% over the same period in 2021. Accumulated in the first 9 months of the year, shrimp export value reached 3.4 billion, up 23% over the same period last year. In September this year, Vietnam's shrimp exports tended to increase in Asian markets such as Japan, China, and Korea while being “quiet” in Western markets such as the US and EU.

(seafood.vasep.com.vn) In September 2022, Vietnam tuna exports reached more than 78 million USD, an increase of 54% over the same period in 2021, but 15% lower than August. Accumulated in the first 9 months of 2022, Vietnam's tuna exports reached nearly US$808 million, up 55% over the same period in 2021. Thus, tuna exports continued to grow over the same period, but export value tends to decrease month by month.

(seafood.vasep.com.vn) ASEAN is one of the market blocs accounting for a significant proportion of Vietnam's total pangasius exports, and is tending to increase. By the end of September 2022, Vietnam's pangasius exports to ASEAN countries are estimated at more than 152 million USD, accounting for nearly 8% of total pangasius exports.

(seafood.vasep.com.vn) In August seafood exports decreased because demand from consuming markets slowed down. Fortunately, this month, orders have gradually increased, enterprises were also actively changing their production to match the market situation.

(seafood.vasep.com.vn) Brazil is among the top 4 largest import markets of Vietnamese pangasius in the first 8 months of 2022. With over $64 million in imports, Brazil accounts for 3.6% of the total pangasius exports, behind China, the US and Mexico.


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