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 reached over US$ 900 million

18:39 03/12/2015

(vasep.com.vn) Seafood exports in the first two months of 2015 valued US$ 907 million, down 9.4% year-on-year. Exports to the US, Japan and South Korea downed while those to China and Thailand upped.

The US maintained its position as the leading import market of Vietnam seafood, accounting for 17.74% of total Vietnam’s export value. In January 2015, seafood exports to the market reached US$ 89.9 million, down 36.77% year-on-year.

Exports to Japan and South Korea also significantly reduced by 9.86% and 0.76%, respectively.

Growth was witnessed in some other markets. Value of exports to China grew by 2.28 times while Thailand saw a 32.96% increase.

From January to February 2015, Vietnam seafood imports valued US$ 172 million, up 0.2% year-on-year. The main suppliers are India, which accounts for 32.6% and Norway, accounting for 10.4%.