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

Vietnams cephalopod exports in 2021 increased by 7%
09:16 01/17/2022

( In the first 10 months of 2021, Australia is one of the few markets with high triple-digit growth in Vietnam's tuna imports. According to statistics of Vietnam Customs, Vietnam's tuna exports to this market reached nearly $2.7 million, up 103% over the same period last year. Continuously from the beginning of the year, Vietnam's tuna export value has grown continuously.

(seafood. CPTPP is the second largest market for Vietnam's imports after the US, accounting for 25% of Vietnam's total shrimp export value to shrimp markets. As of November this year, Vietnam's shrimp exports to the CPTPP market were estimated at US$905.2 million, down 0.2% over the same period. Vietnam's shrimp exports to the main markets in the CPTPP block tend to recover in the year-end period.

( Ocean tuna is a key export product of Binh Dinh province's seafood industry. Therefore, this locality has constantly come up with solutions to help fishermen safely stick to the sea to catch. The Binh Dinh Ocean Tuna Production and Consumption Chain Project has and will help tuna products have stable output and high selling prices.

An Giang is one of the provinces with strengths in agricultural production, in which rice and fishery products are strategic commodities of the province, which is increasingly expanding in scale, improving quality, meeting the needs of consumption and export demand. In which, export pangasius fillet is one of the potentials for agricultural economic development of the province.

( According to Customs statistics, by mid-November 2021, Vietnam's seafood exports reached US$7.52 billion, up 3.2% over the same period last year. Seafood exports in the first half of November 2021 recovered with a growth rate of 24%, it is estimated that in November, exports will reach about 875 million USD, up 18%. Accordingly, by the end of November 2021, seafood export is estimated at nearly 8 billion USD, up 3.7% over the same period in 2020.

( On November 22, the first container of canned clam meat from Vietnam was exported to Europe with the quantity of 200,000 boxes.

( According to Mr. Nguyen Trong Chanh - Director of Khanh Hoa Provincial Fisheries Sub-Department, the plan to implement the Vietnam Fisheries Development Strategy to 2030, with a vision to 2045 in the province, is oriented towards aquaculture development in the direction of commodity production, raising the value of key aquaculture species, associated with traceability to ensure raw materials for the processing and export industries.

( EU is Vietnam's second largest shrimp import market, accounting for 15%. Since the beginning of the year, Vietnam's shrimp exports to the EU market have recorded a good growth rate. It is forecast that the EU's shrimp import demand in the last months of this year will continue to increase.

( Canada is one of the five largest tuna export markets of Vietnam in the past three years. While tuna exports to large traditional markets such as the US and EU countries in 2021 are not stable, exports to Canada are on a good growth trend. In the first 9 months of 2021, the export value of tuna to this market increased by 22% over the same period to over 23 million USD.

( Vietnam's seafood exports from 2018 to now have been affected by factors such as falling demand and import prices in some key markets, technical barriers and taxes. especially the Covid epidemic, which disrupted the supply and consumption chains in the past 2 years. However, in that context, Vietnam's seafood exports did not plunge too deeply because the pedestal was FTA agreements from 2018 up to now, including the CPTPP and EVFTA agreements.

( Ca Mau Provincial People's Committee and Minh Phu Seafood Corporation have just held the Groundbreaking Ceremony of the Minh Phu Seafood Processing Factory project chain at Khanh An Industrial Park, U Minh District, Ca Mau Province.

( According to a report by the Can Tho Fisheries Sub-Department, the total output of farmed and caught seafood in the first nine months of 2021 reached 124,757 tons, equaling 82% over the same period, reaching 62% of the 2021 plan.

( The rice-shrimp farming model is mainly concentrated in the coastal provinces such as Kien Giang, Soc Trang, Bac Lieu, Ben Tre, Ca Mau, etc. is giving high economic efficiency. Every year, farmers earn two sources of rice and shrimp, about 4-4.5 tons of rice/ha/crop and 0.45-0.5 tons of shrimp/ha/crop.

( Vietnam's seafood exports to the US in the third quarter of 2021 slowed down compared to the second quarter, but still increased by 5.7% compared to the same period last year. By the end of September 2021, Vietnam's seafood exports to the US reached US$1.45 billion, up 24% over the same period last year.

( Vinh Hoan Corp has just published a report for September 2021 with a revenue of VND 658 billion, bringing the total export revenue of the third quarter of 2021 to VND 2,128 billion, up 17% over the same period in 2020.

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