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.  

Export potentials

Seafood exports to markets decreased in August 2021
09:31 09/17/2021

(seafood.vasep.com.vn) In the first six months of this year, the EU was the largest import market for Vietnamese bivalve molluscs, accounting for 60% of Vietnam's total bivalve mollusk exports.

Many businesses from Guangzhou city of China have shown their interest in importing Vietnamese aquatic products, according to Le Hoang Tai, Vice Director of the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade.

(seafood. vasep.com.vn) Vietnam's tuna exports to Chile in the first 6 months of 2021 reached $3.3 million, accounting for nearly 1% of Vietnam's total tuna export value during this period, increased by 4.4% over the same period. Although the proportion is not high, thanks to the effective free trade agreements between Vietnam and Chile, Vietnamese tuna will have many opportunities to expand its market share in this market in the near future.

(seafood.vasep.com.vn) In the first 6 months of this year, Vietnam's seafood exports to the US reached US$901 million, up 39% over the same period last year, of which exports of aquaculture products accounted 68% to reach 612 million USD, up 42%; Export of marine products took for for 32%, reaching 289 million USD, up 32%.

Vietnam is to have 280,000 ha of marine aquaculture area and 10.5 million cubic metres of farming cages by 2025, according to the Ministry of Agriculture and Rural Development (MARD).

(seafood.vasep.com.vn) Continuously from the beginning of the year until now, Vietnam's tuna exporters have faced many difficulties such as: increased production costs, increased container rental prices, and increased transportation rates... However, with unremitting efforts and market acumen, the country's tuna export results in the first half of 2021 still increased by 21% over the same period of last year, reaching 355 million USD.

(seafood.vasep.com.vn) According to statistics of Vietnam Customs, Vietnam's marine product exports continued to grow well in June 2021. In the first 6 months of 2021, marine products export value reached more than 1.6 billion USD, up by 15% over the same period in 2020.

(seafood.vasep.com.vn) Export revenue of Vinh Hoan Corp in June 2021 reached VND 713 billion, up 15%, of which the US market brought in nearly VND 300 billion, up 77%. Exports to the EU and China markets decreased due to the impact of the new strain of Covid-19 epidemic. Accumulated in the first 6 months, Vinh Hoan recorded export revenue of 3,991 billion dong, up 15.6% over the same period last year.

(seafood.vasep.com.vn) In June 2021, Vietnam's pangasius export value reached nearly 142.6 million USD, up 28.1%. By the end of June 2021, the total export value of pangasius reached 780.9 million USD, up 17% over the same period last year. This positive result brings optimism to Vietnamese pangasius exporters.

The southern province of Kien Giang aims to resolutely minimise and end illegal, unreported and unregulated (IUU) fishing, develop and implement a project on consolidating and rearranging fishing vessels in the province to provide stable work for fishermen, ensuring sustainability in preventing IUU fishing.

The European Commission (EC)'s unremoved yellow card warning is one of the major challenges for Vietnam's seafood exports.

(seafood.vasep.com.vn) The demand recovery in two major markets of the US and EU and sharp increases in exports to potential markets has brought seafood export turnover of over US$4.1 billion for the country in the first half of this year. In which, exports in June 2021 continued to increase by 20% over the same period last year, reaching 865 million USD. With the current growth momentum, Vietnam seafood exports in 2021 can reach the target of 9 billion USD.

According to the People's Committee of Bac Lieu province, in the first 6 months of 2021, the weather is quite favorable for aquaculture, so shrimp develops well, many high-tech shrimp farming models have brought high economic efficiency. Accordingly, there are 7 companies and 472 households developing high-tech agricultural models with an area of 1,126.26ha; The average yield of farmed shrimp is nearly 23 tons/ha.

In the first 6 months of 2021, shrimp export turnover of Ca Mau province - a key seafood province in the Mekong Delta, is estimated at 400 million USD, up 16.6% over the same period in 2020. Forecast in 2021, shrimp export of the province reached over 1 billion USD.

Minh Phu Hi-tech Agriculture Co., Ltd was established in October 2018 with the main activities of producing, cultivating, processing and exporting aquatic products, importing processing materials for export.


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