Vietnam world’s fourth largest seafood exporter

Vietnam has secured its place as the fourth-largest seafood exporter worldwide, following Norway, China, and Russia, according to Tran Dinh Luan, the deputy general director of the Directorate for Fisheries of Vietnam. This achievement not only establishes Vietnam as the leading seafood exporter in Southeast Asia but also positions it as the second-largest exporter in Asia.

Expanding Global Reach

With a presence in over 170 countries and territories worldwide, Vietnamese seafood products have garnered international recognition and demand. In 2021, the sector aims to achieve export revenues of $10 billion, marking an 11% year-on-year increase. To realize this target, the seafood industry will prioritize production restructuring and implement comprehensive plans focused on the development of the shrimp industry by 2025.

The Evolution of Vietnam’s Seafood Sector

Deputy General Director Luan highlighted the significant growth of Vietnam’s seafood industry over the years. In 1986, seafood volume reached 840,000 tons, generating $100 million from exports. The subsequent decade witnessed remarkable progress, driven by the promotion of seafood farming and exploitation, particularly in tiger prawn farming in the Mekong Delta. This period also saw an emphasis on diversifying and improving the quality of export products, enabling Vietnamese seafood to enter more demanding markets.

Impressive Growth and Industry Milestones

Vietnam’s seafood output skyrocketed to 7.4 million tons in 2022, representing a 5.6-fold increase from 1995. In tandem, export revenues reached an all-time high of over $9 billion. The proportion of farmed seafood also surged, rising from 31% in 1995 to over 54% in 2018. These remarkable achievements underscore the industry’s commitment to continuous development and sustainability.

Celebrating the Seafood Sector’s 60th Anniversary

To commemorate the 60th anniversary of the seafood sector’s traditional day, various activities have been planned in Hanoi and the northern province of Quang Ninh. These include an industry fair, a ceremony to release seafood varieties for the restoration of aquatic resources in the Gulf of Tonkin, and a seminar to review the Vietnam-China fishery cooperation agreement’s 15-year implementation in the gulf.

On March 29, the Directorate for Fisheries of Vietnam will hold a ceremony in Hanoi to honor the sector’s leaders and workers, showcase seafood products, explore market expansion opportunities, and foster international cooperation.

Conclusion

Vietnam’s seafood industry has made significant strides, ranking among the top global exporters and dominating the Southeast Asian market. With ambitious targets set for 2021 and a focus on production restructuring and shrimp industry development, Vietnam aims to sustain its growth trajectory.

The industry’s remarkable journey, marked by increased output, diversified products, and expanding market access, will be celebrated during the 60th anniversary events. The continued success of Vietnam’s seafood sector serves as a testament to its dedication to excellence, adaptability, and commitment to meeting global demand.