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Vietnam seafood

(seafood.vasep.com.vn) The 2020 was a turbulent year for the world economy with many nations suffering tremendous losses due to the COVID-19 pandemic. Vietnam has been less affected by the pandemic thanks to extraordinary efforts of the industry. Notwithstanding, everything from life to socio-economic, education, and national security has undergone many months of upsetting. Vietnam's seafood industry has been affected by various issues. Continued difficulties from key export markets and natural disasters have caused both farmers and businesses to worry to fight for "survival". At the end of the year, the total seafood export value of Vietnam reached 8.41 billion USD, slightly down 1.9% compared to 2019. This result reflects the tireless efforts of seafood enterprises in the light of the pandemic crisis.

(seafood.vasep.com.vn) Vietnam sets a target achieving seafood export turnover of US$14-16 billion by 2030 and creates jobs for 3.5 million workers. By 2045, fisheries will be a modern commercial economy, a deep seafood processing hub, which belongs to the group of three leading countries in the world.

With the average seafood import demand of 4.1-4.5 billion USD/year, Vietnam seafood has great room to increase exports to the UK market thanks to the push from the UKVFTA Free Trade Agreement.