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.

Vietnam had the second highest fish production, after Indonesia

15:02 10/29/2014

(vasep.com.vn) According to Ministry of Industry and Trade (MoIT)'s Africa, West Asia and South Asia Market Department, The Organisation for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization of the United Nations (FAO) coordinated and published Report on global outlook of seafood industry by 2022.

Accordingly, Vietnam’s fish production growth rates, though were highest in the period of 2003 - 2012, are likely to reduce lower than some developing countries such as Nigeria, Brazil, Indonesia, Thailand, China and India from 2013 to 2022. Among Southeast Asian nations, Vietnam had the second highest fish production, after Indonesia.

This report also reveals that Vietnam's fishery is mainly export-oriented and exports account for 40% of total output with average growth rate of nearly 14% in the period of 2003-2012 . The period 2013-2022 is expected to witness 43% of seafood export ratio but average export growth rate will likely to decrease to 2.0%.

According to the Ministry of Agriculture and Rural Development of Vietnam, from January to September 2014, Vietnam’s seafood exports reached US$ 5.65 billion, up 21.6% year on year.