With a long coastline of over 3,260 km and an exclusive economic zone of over 1 million km2, marine resources of the country are considered to be rich and diverse, with more than 2,000 species of marine life. The output from inshore and offshore fishing increased by an average of 5% per year. Total annual capture production has increased from 2 to 3 million MT per year.
In addition, the sector of fishing, processing and exporting marine products of Vietnam is highly developed, contributing significantly to the growth of marine product export turnover, opening a promising direction for offshore fishing industry. The value of marine product export turnover has grown rapidly in the past two decades, up from US$355 million to US$2.7 billion, an increase of 652%.
Vietnam's marine products for exports are increasingly diversified. Products such as tuna, cephalopod, bivalve mollusks, crab and surimi are currently getting much higher export turnover than 1998-1999. In particular, tuna and cephalopod account for high proportion of total marine product exports of the country.
In the past 20 years, tuna has been one of the three major export products of Vietnam. The export value of tuna products increased from US$14 million to US$593 million, an increase of 4,109%. The share of tuna exports in Vietnam’s total marine product exports has increased from 4% to 22%. The major export species of Vietnam include yellowfin tuna, bigeye tuna, longfin tuna, southern bluefin tuna and striped tuna. In terms of product structure, if in the period of 1998 - 2007, Vietnam mainly exported raw tuna; in the past 10 years, enterprises have paid much attention to increase the value of products and exports of processed tuna products such as tuna loins/fillets, canned tuna in oil and tuna pouch.
Along with tuna, Vietnam’s cephalopod exports also increased continuously through the years. The export value has risen from US$92 million to US$621 million in the last 20 years, up 572%. And for the past 20 years, cephalopod exports always occupied a large proportion in total marine product exports.
By 2017, Vietnam's marine products have been exported to more than 184 markets in the world. Of that, Japan, the EU, the U.S, ASEAN, South Korea and China held as the six largest marine product importers of Vietnam, accounting for over 81% of total marine product export value.
However, Vietnamese marine products have to strongly compete with the same items from rivals as well as face difficulties such as technical barriers to trade in main markets.
With so many difficulties, but over 20 years with many efforts, Vietnam's marine product industry is gradually growing. The export value is increasing and it is forecasted that Vietnam’s marine product exports in the coming time will increase slightly.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam's crab export value in March 2024 reached more than 18 million USD, an increase of 66% over the same period last year. Cumulatively, in the first 3 months of the year, export turnover reached more than 52 million USD, up 75% over the same period.
Vietnam's pangasius exports to Brazil reached nearly USD 28 million in the first quarter of 2024, surging by 44% compared to the same period in 2023.
(vasep.com.vn) According to Vinh Long Statistics Department, the whole province currently has 2,119 hectares of aquaculture area, an increase of 1.03% (equivalent to an increase of 21.62 hectares) over the same period last year; Of which the industrial pangasius farming area is 370.8 hectares, an increase of 0.12% or an increase of 0.42 hectares.
(seafood.vasep.com.vn) 2023 was an unsuccessful year not only for Vietnamese but also for Thailand tuna exporters in the Middle East market. Thailand's tuna exports to this market decreased by 21% in value and 27% in volume compared to 2022. Therefore, the Middle East dropped to second position among Thailand's export markets after the US, accounting for 22% of total export turnover in 2023.
Competent ministries, sectors and localities should continue efforts to lift the European Commission’s “yellow card” against the Vietnamese seafood products for illegal, unreported and unregulated (IUU) fishing, as an inspection team of the commission will visit Vietnam soon, Minister of Agriculture and Rural Development Le Minh Hoan.
(seafood.vasep.com.vn) According to data from Vietnam Customs, in March 2024, Vietnamese pangasius export turnover to markets reached 156 million USD, down 14% over the same period. Vietnam pangasius export value in QI/2024 reached 411 million USD, down 3% compared to QI/2023.
(vasep.com.vn) According to data from the Department of Fisheries, as of March 20, 2024, the shrimp farming area reached about 348,670 hectares, including 334,799 hectares of black tiger prawn farming area and 13,871 hectares of white leg shrimp farming area.
(seafood.vasep.com.vn) Vietnam's tuna exports reached around $84 million in March 2024, a 17% rise. Vietnam's total tuna export revenue for the first three months of 2024 was $215 million, up 19% from the same time in 2023 but down 17% from 2022. It is anticipated that tuna exports may miss the billion-dollar mark as in 2022 at this rate and the difficulties the business faces.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
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