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.

Aquatic export surges in January

15:22 02/15/2018

Fishery export value amounted to 560 million USD in the first month of 2018, up 15.6 percent from the same period last year.

Also in January, Vietnam imported 151 million USD worth of aquatic products, an annual increase of 55.8 percent.

According to the Ministry of Agriculture and Rural Development, fishing activities are in its high time of the year, with Phu Yen, Binh Dinh, and Khanh Hoa harvesting approximately 690 tonnes of tuna fish during the month.

In the domestic market, prices of Tra fish materials in the Mekong Delta region remained at high levels, ranging between 27,000 and 29,000 VND per kg due to supply shortage. The situation is unlikely to change soon, as export is brisk while supply sources expand only marginally.

The prices of shrimp are projected to follow an upward trend compare to the last month of 2017 thanks to increases in consumer and factory’s materials demand.

The US, Japan, China, and the Republic of Korea were top four importers of Vietnamese aquatic products last year, together accounting for 55 percent of the country’s total fishery exports.

VNA