Vietnam seafood exports in the first 10 months of 2022 reached 9.4 billion USD

( 2022 is a year with many changes and difficulties for the import-export industry, including the seafood industry. However, Vietnamese seafood enterprises have turned challenges into opportunities, taking advantage of FTAs as well as market demand to boost exports in 2022. As a result, by the end of October, Vietnam's seafood exports brought in US$9.4 billion, up 33% over the same period last year.

Vietnam seafood exports in the first 10 months of 2022 reached 94 billion USD

By October 2022, shrimp exports reached nearly $3.8 billion, up 18%. Shrimp exports in 2022 are expected to reach over $4.4 billion, up 14% compared to 2021. The main export shrimp products are vannamei shrimp, accounting for 75% with over $3.2 billion, black tiger shrimp accounting for about 13% with nearly 1.5 billion USD.

In 2022, inflation and the Russia-Ukraine conflict have helped affordable white fish such as pangasius increase export sales. Most markets have increased by 40-200% of Vietnam's pangasius imports.

Pangasius exports by the end of October 2022 reached nearly 2.1 billion USD, up 77% compared to the same period in 2021. It is expected that in 2022, pangasius exports will reach over 2.4 billion USD, up 49% compared to the same period in 2021.

Tuna exports by the end of October were estimated at US$884 million, up 49% over the same period. In 2022, for the first time, tuna will become an export commodity of over 1 billion USD.

Taking advantage of domestic and imported raw materials, tuna businesses process a variety of products and promote the export of frozen loin/fille and canned tuna and flexibly follow market trends in the current period (Covid, inflation, etc).

As of October 2022, exported cephalopod products have achieved sales of 630million USD, up 33%. It is estimated that in 2022, the export of this product will reach 760 million USD, up 25% compared to 2021. 

By the end of November, Vietnam's seafood exports are expected to reach more than 10 billion USD - a historical record of Vietnam's seafood industry in more than 20 years.

The seafood industry in 2022 is estimated to account for 3% of Vietnam's total merchandise exports. Compared to the total export turnover of other economic sectors, the fisheries sector contributes nearly 12% of the value. While the proportion of the group of agricultural, forestry and fishery products in general is decreasing by 0.6% points, the aquatic products industry has increased by 0.4% points. This result reflects a breakthrough and the increasingly important role of the fishery industry in the GDP of the whole country, especially in the export of agricultural, forestry and fishery products.

On the world seafood export map, Vietnam is currently the third largest exporting country, just behind China and Norway - two superpowers with a much larger land and water surface area than Vietnam. With the results of 2022, it is estimated that Vietnamese seafood will account for over 7% market share in the world market.

Compiled by Thuy Linh 

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