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.vasep.com.vn) On May 1, 2021, the UK - Vietnam Free Trade Agreement (UKVFTA) officially took effect. The agreement is expected by the two countries to create more new opportunities in trade and investment relations between Vietnam and the UK in the near future.

(seafood.com.vn) Shrimp production and processing is one of the key industries of Ca Mau province. With this strength, Ca Mau province has developed strategies to maximize its potential in order to develop its brand and promote export markets.

(seafood.vasep.com.vn) In super-intensive shrimp farming, technology plays an important and decisive role for success. Bac Lieu province is applying advanced technology to farming models, in order to improve production, quality and towards closed-loop shrimp farming, environmental protection and sustainable development.

On May 19th, 2021, at the webinar "Sustainability certification: win-win cooperation for effective application" organized by VASEP, the Association has announced the decision to establish the VASEP Sustainability Certifications Advisory Council (VASEP CERACO) with a list of council members, operating regulations and annual action plan of 2021. VASEP CERACO Council will support VASEP member businesses to apply well and conveniently international sustainability certifications.

(seafood.vasep.com.vn) The Mekong Delta is entering the brackish water shrimp farming season in 2021, with an estimated increase in the farming area and harvest compared to 2020. However, since the beginning of the year until now, the COVID-19 epidemic has continued to break out, causing the shrimp exports of enterprises in the Mekong Delta face many difficulties, especially in the field of logistics, affecting and reducing the profits of shrimp companies in particular and seafood enterprises in general.

(vasep.com.vn) By the end of April 2021, Vietnam seafood exports were estimated at over $2.5 billion, up by 13% over the same period last year. In 2020 and the first 2 months of 2021, due to the impact of Covid, the supply chain is disrupted, especially in the logistics segment, Vietnam's seafood exports have declined or slowed down at times. From March 2021, Vietnam's seafood export started to recover markedly with a growth of 17% over the same period. In April, exports broke out more strongly with a growth of nearly 30% to nearly 800 million USD.

(seafood. vasep.com.vn) Thanks to the growth of nearly 17% in March with over 735 million USD, the seafood export turnover of the whole country in the first quarter of 2021 reached 1.7 billion USD, up nearly 7% over the same period. period last year. It is forecasted that seafood export in the second quarter will continue to grow 10% to about 2.1 billion USD.

(seafood.vasep.com.vn) Vietnam's shrimp exports in the first quarter of 2021 reached US$ 661 million, an increase of over 5%. This slight growth was mainly due to an increase in exports of 16.5% in March. Shrimp exports to the US, EU, Australia, UK, and Russia surged in March (up 49%, 27%, 37%, 31% respectively and 97%), making the picture of shrimp export in the first quarter brighter after the cumulative results in the first 2 months decreased compared to the same period last year.

(seafood.vasep.com.vn) The fisheries is identified as the key economic sector of Binh Thuan province, attracting thousands of labors to participate in production and export processing. Over the past years, this economic strength has continuously maintained growth and development at a fairly rapid rate.

(seafood.vasep.com.vn) As of March 15, 2021, the total value of shrimp exports to the South Korean market reached 53.6 million USD, accounting for 10.8% of the total shrimp export value, down by nearly 5% over the same period last year. By 2020, whiteleg shrimp products account for nearly 85% of the total shrimp export value to the South Korean market.

(vasep.com.vn) By the end of February 2021, the total value of Vietnam's tuna exports to Japan reached more than US $4 million, down by 16% from the same period in 2020. It is forecasted that in the following months, tuna exports to this market still cannot recover.

(seafood.vasep.com.vn) According to statistics of Vietnam Customs, in the first quarter of 2021, Vietnam seafood export reached 1.73 billion USD, up by 7% over the same period last year. In particular, the marine products accounted for a dominant proportion with 42% and an outstanding growth of 11% with a turnover of 728 million USD, surpassing shrimp (661 million USD, up by 5%) and pangasius (331 million USD, up by 3%).

(vasep.com.vn) According to statistics of the Vietnam customs, Vietnam's seafood export in March reached over 735 million USD, up by nearly 17% over the same period in 2020. This is an over-expected growth because exports to most key markets increased strongly, except for Japan, down by 2.8%. By the end of the first quarter of 2021, Vietnam's seafood exports reached US $ 1.73 billion, an increase of nearly 7% over the same period last year.

(seafood.vasep.com.vn) The fisheries sector is identified as the key economic sector of Binh Thuan province, attracting thousands of labors in production and export processing. Over the past years, this economic strength has continuously maintained growth and development at a fairly rapid rate.

(seafood.vasep.com.vn) In the first 3 months of 2021, the area of aquaculture in Ca Mau province, especially shrimp farming, continued to develop stably.


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