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 to Russia revesered, increase sharply from August

( By the end of August 2022, Vietnam's seafood exports to Russia reached over $94 million, down 20%, due to the Russia-Ukraine conflict from the end of February 2022, causing Vietnam's seafood exports in the period of March and April to be delayed. However, seafood exports to Russia are showing many positive signs.

Seafood exports to Russia in March and April decreased by 86% and 46%, respectively, because of traffic congestion and difficult trade payments. However, from May, seafood exports to Russia recovered gradually and from July, exports reversed, increasing by 36% and increasing strongly by 98% in August.

Pangasius is still the most exported product, accounting for 22% of seafood exports to the Russian market with nearly 21 million USD in the first 8 months of this year, down 12% compared to the same period last year. In which, frozen pangasius fillets accounted for about 75%, whole pangasius accounted for 14%, and sliced pangasius accounted for 11%.

While the export of most seafood products to Russia decreased because of the interruption in the first stage of the Russia-Ukraine war, the export of Yellowstripe scad, tuna and anchovies to this market still maintained positive growth.  In which, tuna exports accounted for 17%, increased by 97% to nearly 16 million USD, Yellowstripe scad increased by 6% to 14.6 million USD, accounting for 15%, anchovies increased by 27% to 4.6 million USD.

Exports of white leg shrimp, fish cakes & surimi all decreased by over 50% over the same period last year. In which, whiteleg shrimp exports reached over 16 million USD, accounting for 17%, surimi fish cake exports reached over 12 million USD, accounting for 13%.

Vietnam seafood exports to Russia revesered increase sharply from August

Vietnam seafood exports to Russia revesered, increase sharply from August

In the first 8 months of 2022, there were 39 Vietnamese enterprises exporting seafood to Russia. In which, Nam Viet Corp accounted for the largest proportion of 13% with the main product being pangasius. Followed by Sai Gon Food Import Export JSC(12%), Hai Vuong Company Limited (12%), Anh Long FOOD CO.,LTD (8%) and Minh Phu Seafood Corp (7%)… In 2022, 6 more enterprises are allowed to export seafood to Russia, so there are currently 54 enterprises allowed to export to this market.

According to Mr. Duong Hoang Minh, Vietnam's Trade Counselor in Russia, when the Russia-Ukraine war happened, the Russian banking system was blocked, the ruble was devalued, but Russia took quick actions to keep the foreign currency source stable. Despite economic sanctions from many G7 countries, the Russian market is still quite stable because Russia still has many other partners, and Russia's exports to the world market are still increasing. In 2021, Russia's trade surplus will reach about 70 billion USD. This year Russia's trade surplus is forecast to be even larger. The payment problem for exporting to Russia is no longer difficult and the market space is still large.

According to Mr. Minh, transporting goods from Vietnam to Russia has become more convenient. Currently, the Russian shipping group has opened a direct transport route from Ho Chi Minh City - Hai Phong - Vladivostok and there have been a number of other shipping lines running new routes, the transportation is faster and the time is shorter. In addition, there is a rail transport system to support trade with Russia.

With many positive signals, seafood exports to the Russian market will continue to recover in the last months of this year. It is forecasted that in 2022, Vietnam's seafood exports to Russia will record a growth of 16%, reaching over 190 million USD.

Top 10 Vietnam seafood exporter to Russia (Jan-July/2022)


Proportion (%)

Navico (Nam Viet Corp)


Sai Gon Food Import Export JSC






Minh Phu Seafood Corp








Hai Trieu Company Limited




Compiled by Thuy Linh

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