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 US$ 7.92 billion

17:19 01/15/2015

(vasep.com.vn) Basing on data from General Customs for 11 months of 2014 and estimated value for exports in December 2014, VASEP gave the amount of US$ 7.92 billion as the expected value for total Vietnam seafood exports in 2014.

This records a 18% year-on-year increase.

Shrimp export value contributes the most in export structure with US$ 4 billion, followed by pangasius with nearly US$ 1.7 billion, tuna with US$ 484 million, and mollusks with US$ 483 million.

Seafood exports were slow in the first months of the year, found stronger growth in the second half of the year. The US, Europe, Canada, Japan and South Korea remained targeted markets for Vietnam's fisheries products.

Reportedly, Decree 36 on pangasius products, which regulates moisture level of 83% and ice glaze ratio of 10%, is expected to take power from 1^st January 2015. When the decree is applied, production costs will increase. However, the application is ceased until 2016.