Vietnam seafood exports recover after Vietfish 2022

In August 2022, seafood export turnover reached nearly 1 billion USD, up 68% over the same period last year and up 6% over the previous month.

Exports of all major aquatic products in August were higher than in the previous month. In which, shrimp reached nearly 400 million USD, pangasius nearly 195 million USD, tuna reached over 91 million USD, octopus and squid reached 75 million USD, the rest was fish and other marine products.

As of the end of August, Vietnam's seafood  export  has earned 7.67 billion USD in foreign currency, up 38% over the same period in 2021. 40% of which is the export value of the shrimp industry with over 3 billion USD, up 24%. Pangasius brought in a record  export value of 1.8 billion USD, accounting for 23.5%.

Tuna exports were 55% higher than the same period last year, reaching $729 million. Export of products from other marine fishes brought in a turnover of 1.35 billion USD, up 23%. Products such as anchovies, scads, salmon, and surimi contributed to sales of $100-300 million in the past 8 months.

Exports of most aquatic species have grown by 2-3 digits in the past 8 months, especially lobster exports with a breakthrough of over 132 million USD, up nearly 6 times over the same period last year.

However, there are still a few products that have slowed down or reduced export turnover in August and the first 8 months of the year. In which, saba fish exports decreased by 6% in 8 months, fish sauce exports decreased by 9%...

Compared to the low starting point of August 2021, seafood exports to all markets recorded a very high growth in August this year, except for Spain and Ukraine, which decreased by 13% and Ukraine by 92% respectively. 

Pangasius is the outstanding products this year with a record export turnover of more than 1.8 billion USD

Export results in 8 months to all markets increased significantly over the same period, except for Russia, which decreased by 13%. The top 10 largest markets including the US, Japan, China, South Korea, Canada, Australia, Thailand, the UK, the Netherlands and Germany all experience double-digit growth, except for the UK, which only increased slightly by 2%.

Markets with high growth rates of over 50% in the past 8 months include China up 82%, Canada up 72%, Australia up 50%, Netherlands up 52%, Belgium up 80%...

2022 is the year for pangasius enterprises, sales of enterprises have increased over the same period. In the first 8 months of 2022, Vinh Hoan Corp ranked first in the country in terms of seafood and pangasius export turnover with nearly 294 million USD, up 70% over the same period last year. Many other pangasius enterprises have increased their export sales, such as Bien Dong Seafood up 36%, Nam Viet up 52%, VDTG FOOD up 50%...

Shrimp and other marine products enterprises are also flexible and take advantage of market opportunities to promote export. STAPIMEX increased its export value to 240 million USD, and ranked in the top 3 exporters. Next are Minh Phu seafood Corp, CASES, FIMEX VN, Thuan Phuoc, which all increased their sales from 19-47%.

Many seafood enterprises such as HAVICO, DRAGON WAVES FROZEN FOOD FACTORY COMPANY LIMITED, Bidifisco, HAI NAM Co.,Ltd all increased sales by 19-56% over the same period.

This is the general picture of Vietnam seafood exports in the first 8 months of 2022. It is expected that the market in the last months of the year will be more favorable for Vietnam seafood exporter. 

Compiled by Thuy Linh