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.  

Shrimp exports hit nearly US$ 3 billion in 9 months

(vasep.com.vn) In the first 9 months of 2014, Vietnam shrimp exports reached US$ 2.93 billion, up 42.3% year on year. The US continued to be the leading import market for shrimp from Vietnam in Q3/2014 although in this quarter, Vietnam shrimp exports to the US were lower than in the first half of 2014.

Shrimp exports to Japan began to recover after the sharp decline in Q2 resulted from inspection decisions on antibiotic oxytetracycline (OTC). Indonesia, a major shrimp exporter to Japan, was focus on the US market. This caused the decrease in shrimp export volume to Japan. Vietnam shrimp exporters, however, did not make use of this opportunity because of the inspection decision. Red shrimp from Argentina became a notable substitute.

Shrimp exports to EU continued to increase in Q3/ 2014, giving it the highest growth rate among 5 major consuming markets. In the first 9 months of 2014, shrimp exports to Germany, the largest market in EU, rose 63.8% year on year whilst that to Netherlands increased by 255.9%. 

Shrimp exports to many other countries also reported increases. Particularly, exports to South Korea upped 84.4%, exports to Australia upped 32.7%.

VIETNAM SHRIMP EXPORTS TO MAIN MARKETS (million US$)

Markets

Jan-Sep/2014

Vs Jan-Sep/2014(%)

US

820.649

+51.2

Japan

529.648

+6.5

EU

495.859

+88.1

Germany

101.028

+63.8

Netherland

96.810

+255.9

UK

75.125

+47.8

China

327.701

+28.2

Hong Kong

65.368

+41.8

South Korea

231.278

+84.8

Australia

111.168

+32.7

Canada

130.984

+69.7

Taiwan

72.461

+4.9

Switzerland

54.212

+42.2

ASEAN

44.465

+30.5

Singapore

27.471

+21.9

Philipines

9.269

+79.7

Other

117.429

+52.5

Total

2,935.854

+42.3


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