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) According to the Department of Industry and Trade of the Mekong Delta provinces, in the early months of 2021, the shrimp export situation in the European market have many prosperity and strong growth.

(seafood.vasep.com.vn) Compared to the same period last year, in Q1/2021, seafood exports of Bac Lieu province was quite prosperous and the export turnover reached over 163 million USD, equaling 18.46% of the year plan and increasing by 8.31% over the same period. Seafood exporters continue to take advantage to expand new markets of shrimp and other seafood products.

(vasep.com.vn) According to statistics from Vietnam Customs, in the first half of March 2021, seafood exports of the whole country reached 326.3 million USD, therefore accumulated seafood exports from the beginning of the year to mid-March 2021 reached 1,327 billion USD. Seafood exports in March is estimated to reach about 640 million USD, up 1.6% over the same period, bringing total seafood export turnover from Vietnam in the first quarter of 2021 to US$1.64 billion, up by 3% over the same period in 2020.

(seafood.vasep.com.vn) In recent years, Tra Vinh province has implemented the structure of the fisheries sector and has made changes in the right direction, especially the product structure.

The Mekong Delta province of Long An targets at least 60,000 tonnes of aquaculture production this year, about 2,000 tonnes higher than in 2020.

(vasep.com.vn) In 2020, while the Covid pandemic caused Vietnam's seafood exports to most of major markets to decline, exports to some CPTPP countries such as Australia and Canada recorded positive growths: Export to Australia increased by 9%, to Canada grew 14%.

(vasep.com.vn) In the Covid era and social distancing that has lasting for more than a year has caused the trend of seafood consumption to change. While fresh, raw, and frozen seafood is negatively affected because of Covid, aquatic products with a long shelf life and easy processing rises in popularity. That is the reason for the nearly 9% growth in Vietnam canned seafood export in 2020 with sales of over 331 million USD.

The districts of Go Cong Dong and Tan Phu Dong, which form key saline and brackish water aquaculture areas in the Mekong Delta province of Tien Giang, are targeting to have more than 10,500 ha of water surface area serving aquatic farming, mostly shrimp, this year.

More Vietnamese firms have successfully sealed export orders in recent times with the support of e-commerce platforms like Alibaba.com and Amazon.

(seafood.vasep.com.vn) After a year dominated by Covid pandemic, the structure of Vietnam's export shrimp market has changed significantly. In the first two months of this year, there were 67 markets importing shrimp from Vietnam, while in the same period last year there were 63 markets. In particular, there are many markets that had a breakthrough growths in imports from Vietnam such as Australia increasing by 115%, Belgium growing 139%, Russia rising by 109%, Chile with a 352% increase, Cambodia increasing by 30 times ...

(seafood.vasep.com.vn) On March 17, 2021, at the Press Conference “Assesment Report on the index for administrative procedure compliance costs in 2020 (APCI2020), Minister and Chairman of the Office of the Government (OOG), Chairman of the Prime Minister's Advisory Council for Administrative Procedure Reform, Mr. Mai Tien Dung awarded certificates of merit to collectives and individuals with outstanding achievements in the process of implementing Advisory Council for Administrative Procedure Reform’s activities for the period 2017-2020.

(seafood.vasep.com.vn) In February 2021, due to the Lunar New Year holiday, the total seafood export of the whole country decreased by over 17% compared to the same period last year, reaching over 410 million USD. However, in fact, exports tend to be recovering because the value of exports to many markets has increased sharply and many export companies have significantly higher sales compared to the same period last year.

(vasep.com.vn) According to statistics of Vietnam Customs, in January 2021, Vietnam's tuna export turnover reached 42.3 million USD, up by 6.3% over the same period in 2020.

(seafood.vasep.com.vn) After a series of consecutive declines due to epidemics, Vietnam's pangasius export has recently recovered. However, the road ahead of pangasius still has many challenges to solve. Mr. Truong Dinh Hoe - General Secretary of Vietnam Association of Seafood Exporters and Producers (VASEP) discussed with reporters of the Vietnam Economic News around this issue.

(vasep.com.vn) Shrimp exporting enterprises in 2021 are getting a push from the FTAs and the remove of the US anti-dumping tax on Vietnamese biggest shrimp exporter. Although the seafood trade has not escaped the impact of the pandemic, the shrimp industry is forecasted to continue to grow thanks to the FTA push, especially with the experience of adapting to market changes from 2020.


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