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.

The US remains leading Vietnam's seafood importer

16:22 04/09/2015

(vasep.com.vn)The US maintained its positon as the biggest seafood importer from Vietnam in Q1/2015.

The latest figures from the Ministry of Agriculture and Rural Development revealed that in Q1/2015, total seafood exports from Vietnam reached US$1.27 billion, 18.62% of which were sent to the US market.

Vietnam seafood export value of March 2015 is estimated at US$ 417 million, down 20.6% year on year.

It is noted that Vietnam seafood exports to Japan in January and February significantly reduced by 11.73% whilst growths were witnessed in China, Mexico, Thailand and South Korea. In 2014, in terms of value, Vietnam ranks the 3rd in supplying shrimp to the US after India and Indonesia.