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) 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.

(seafood.vasep.com.vn) In August 2022, Vietnam marine products exports reached 405 mil USD, increasing 80% compared to the same period 2021. In the first 8 months of the year, marine products exports reached 2.8 billion USD, an increase of 33%.

(seafood. vasep.com.vn) Pangasius exports in the first 8 months of this year reached 1.8 billion USD – an optimistic figure for businesses in this industry. Pangasius exports in the last 3 months have gradually dropped from the peak of 310 million USD in April, but have tended to recover since August.

(vasep.com.vn) In the first 8 months of 2022, Vietnam's tuna export turnover to Denmark continuously peaked. The growth rate of export value over each month continuously maintained at a high, three-digit level, compared to the same period last year.

(seafood.vasep.com.vn) August 2022 marked the spectacular return of the Vietfish International Seafood Exhibition, a major event of Vietnam's seafood industry. The record number of customers at Vietfish Expo 2022 signaled more bumper results for Vietnamese seafood businesses.

(seafood.vasep.com.vn) With an export turnover of 21 million USD, Vietnam became the second largest seafood supplier in Switzerland, after Norway.

(seafood.vasep.com.vn) In August 2022, Vietnam's shrimp exports reached more than 398 million USD, up 41% over the same period in 2021. Accumulated in the first 8 months of 2022, shrimp exports reached more than 3 billion USD, an increase of 24%..

(seafood.vasep.com.vn) The UK is among the top 10 Vietnam’s seafood import markets, accounting for 3% of seafood export value. In the first 8 months of 2022, Vietnam seafood exports to the UK increased by 3.5% to 213 million USD, of which pangasius exports accounted for 47 million USD.

(seafood.vasep.com.vn) As the 7th largest tuna import market among 27 EU countries, Belgium is one of the few markets that has maintained continuous growth in tuna imports in the past 2 years. Currently, this country is also the third largest import market of Vietnam tuna in the bloc.


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