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.

Seafood exports hit US$3.6 billion in first half of 2014

13:40 09/13/2014

(vasep.com.vn) Through July 2014, Vietnam seafood exports valued over US$ 4.2 billion, rising by 25.5 percent year on year, according to the General Statistics Office (GSO).

Seafood exports in July alone was US$680 million. The main destinations are the U.S., Japan and EU.

Seafood imports by the country in the first 7 months was US$604 million, up 74 percent year on year.

Therefore, the seafood export surplus reached US$3.6 billion in the first six months.

It is forecast that seafood exports this year is likely to exceed VND7 billion. Shrimp is still the key export, touching US$1.8 billion in the first half of the year.