With a coastline of over 3,260km, Vietnam’s waters are home to over 2,000 marine species with annual total fishing capacity of 2 million tonnes. Statistics showed that offshore and inshore fishing catches grow by 5 percent annually on average, reaching an estimated 3.1 million tonnes last year and 3 million tonnes in the first 11 months this year.
As of the end of 2016, the country registered nearly 110,000 fishing vessels, including over 2,800 logistics vessels and 31,000 ships with capacity of more than 90CV.
Aquaculture also saw rapid growth, with total output rising to 3.6 million tonnes in 2016 from 3.5 million tonnes in 2015. In the Jan-Nov period this year, the figure was more than 3.4 million tonnes, contributing to poverty reduction and job creation.
Export of aquatic products has increased strongly over recent years with an annual growth of 15.6 percent. From 550 million USD in 1995, export value rose to 7.8 billion USD in 2014. After declining to 6.7 billion USD in 2015, 7.05 billion USD in 2016 due to market difficulties, the value topped 7.5 billion USD in the first 11 months this year.
Vietnam currently ships aquatic products to over 150 markets, with the main markets being the US, Japan, China and the Republic of Korea.
The country’s participation in many trade deals is expected to bring more opportunities for domestic aquatic products and enhance their competitiveness thanks to incentives and preferential tariff while domestic firms will improve manufacturing chain and added value.
Under the master plan on Vietnam’s fisheries sector to 2020 with vision to 2030, Vietnam will build six large-scale fisheries centres in the northern port city of Hai Phong, the central city of Da Nang and province of Khanh Hoa, the southern provinces of Ba Ria – Vung Tau and Kien Giang, and the Mekong Delta city of Can Tho, each of them is closely associated with key fishing grounds.
Solutions proposed for the fisheries sector’s sustainable development include investing in infrastructure and fishing vessels, modernizing aquaculture techniques, and promoting mechanisation and automation in processing to improve export value.
VNA
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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