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.  

Korean shrimp imports from Vietnam surges in 2014

(vasep.com.vn) Statistics show that in the first 9 months of 2014, Korea shrimp imports increased by 6.4% year on year in volume, and that from Vietnam rose by 50.2%.

 From January to September 2014, South Korea imported 44,418 MT of shrimp, with the value of US$ 407.4 million, up 6.4% in volume and 44.5% in value. As imports from China plummeted and imports from Thailand fell sharply at 39%, Vietnam become the largest shrimp supplier for South Korea. Vietnam rose its market share from 33% to 44%.

South Korea shrimp imports, Jan-Sep /2013-2014  by weight (MT)

Origin

2013

2014

2014/2013 (%)

Global average

41,731

44,418

6.4

Vietnam

13,083

19,646

50.2

China

14,610

9,391

-35.7

Malaysia

2,802

3,150

12.4

Ecuador

3,054

3,120

2.1

Thailand

4,574

2,786

-39.1

India

1,536

2,290

49.1

Indonesia

161

664

311.7

Argentina

150

655

334.6

Philippines

194

538

177.4

Iran

21

408

1792.9

 


South Korea shrimp imports, Jan-Sep /2013-2014  by value (US$ millions)

Origin

2013

2014

2014/2013 (%)

Global average

282.0

407.4

44.5

Vietnam

109.6

205.3

87.2

China

63.2

50.6

-19.9

Thailand

39.9

37.3

-6.4

Ecuador

24.3

30.4

24.7

Malaysia

18.5

29.1

56.8

India

11.3

17.2

52.0

Philippines

2.9

7.9

166.7

Indonesia

1.7

6.9

293.7

Argentina

1.0

5.8

455.2

Peru

1.2

2.8

133.3

Accounting for 7.9% of total shrimp exports from Vietnam, Korea is ranked 5th in top list of biggest shrimp market for Vietnam, after the US, Japan, EU and China. Shrimp exports from Vietnam to Korea in the first 9 months of 2014 upped 84.8% year on year. This growth rate is only lower than exports to EU.Early mortality syndrome (EMS) was the main cause for the decline in shrimp imports from China and Thailand. This became an opportunity for other sources such as Vietnam, India and Indonesia to boost exports to Korea. Shrimp imports from Indonesia to Korea were reported up 311.7% in the first nine months of this year.

Until the end of September 2014, whiteleg shrimp exports to Korea, up 106% year on year, were double as those of black tiger shrimp.  


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