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.

Through November 2014, seafood exports hit over US$ 7 billion

14:52 12/12/2014

(vasep.com.vn) Through November 2014, Vietnam seafood exports reached US$ 7.22 billion, exceeding the annual expected value of US$ 7 billion.

November’s seafood exports added US$ 666 million to cumulative value, making it US$ 7.22 billion, up 19.3 % year on year, according to MARD reports. The United States maintained its position as the leading import market, accounting for 21.85% of total export value, followed by Japan, Korea and China with increases of 8.47%, 37.49% and 16.17 %, respectively.

Seafood exports have been increasing at the annual growth rate of 15-20%. Seafood export value increased sharply from US$ 2 billion in 2002 to US$ 6.1 billion in 2011. It was US$ 6.7 billion in 2013, and is expected to reach US$ 11 billion in 2020.

Earnings from shrimp export make up more than a half of total seafood exported from Vietnam. Pangasius, the runner-up, accounted for 22%.