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.

Agro-forestry-fishery exports earn nearly 21 billion USD

09:00 12/06/2016

Vietnam earned 20.6 billion USD from selling abroad farm, forestry farmed fish products in the first eight months of 2016, up 5.6 percent from a year ago, according to the Ministry of Agriculture and Rural Development (MARD).

The figure included 2.76 billion USD attained in August alone.

Agri-products contributed 9.9 billion USD to the eight-month turnover, a 5.7 percent increase against the same period last year.

It included 1.51 billion USD from the sale of 3.37 million tonnes of rice, down 13.1 percent in value and 16.6 percent in volume year-on-year.

The export value of fishery products in the first eight months of this year amounted to 4.3 billion USD, a rise of 4.1 percent from the 2015 same period.

The United States, Japan, China and the Republic of Korea were leading importers of Vietnamese farmed fish. China, the US and Thailand saw a remarkable surge of 53.9 percent, 11.9 percent and 9.9 percent, respectively in their import of Vietnamese seafood.

Source: VNA