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

30 Japanese enterprises seek opportunities to import Vietnamese agricultural and aquatic products
08:31 11/24/2022

(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.

(seafood.vasep.com.vn) Vietnam shrimp exports in July continued the trend of slow down in June, reaching 381 million USD, down 14% compared to the same period 2021. In July, among the main markets, exports to the US and China decreased 54% and 17% respectively. Shrimp exports to the remaining markets such as Japan, Korea and the EU maintained the positive growth.

(seafood.vasep.com.vn) By the end of August 2022, Vietnam's seafood exports to Russia reached over $94 million, down 20%, due to the Russia-Ukraine conflict from the end of February 2022, causing Vietnam's seafood exports in the period of March and April to be delayed. However, seafood exports to Russia are showing many positive signs.

(seafood.vasep.com.vn) Dong Thap Provincial People's Committee has just issued a plan to develop the pangasius industry until 2025. In which, 1,225 hectares of pangasius production will be produced in accordance with the GAP standard and export turnover will reach US$980 million per year.

(seafood.vasep.com.vn) Vietnam's tuna exports in July 2022 slowed down with an export value of more than 85 million USD, up 32% over the same period in 2021. This figure brought the total tuna export turnover in the first 7 months of 2022 to reach 638 million USD, up 52% over the same period in 2021.


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