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 Seafood Exports Decreased 31 percent in February

10:48 09/16/2014

Viet Nam's seafood export in February 2013 declined 30.8 percent reports VASEP. Total seafood export for the first two months of the year is down 0.6 percent compared to the same period last year, reaching $779 million.

In February, exports of pangasius dropped 39 percent and shrimp 33 percent. Export of these items reduced due to resource and market constraints, reports VASEP.

Meanwhile, tuna is still favourable, thanks to a source of raw materials from mining.

There was a significant decline in exports to the US, which fell by nearly 10 percent. To the EU they fell 33 percent, Japan 33 percent, Mexico 55 percent and China at least 23.5 percent.

Seafood forecast in March continued to reduce or slow down due to the problems in the first place. Shrimp exports will be difficult due to problems Ethoxyquin test in the Japanese market has not been resolved, while the risk of anti-subsidy tariffs in the U.S. market.

Meanwhile, pangasius are facing major challenges and risk losing the US market after the US Department of Commerce (DOC) announced the results of anti-dumping in the first administrative review POR8 for Vietnam pangasius.