January 11, 2023

 

Vietnam the third biggest global seafood exporter in 2022
 
 

 

Vietnam has become the third biggest global seafood exporter in 2022, with its seafood export turnover reaching US$11 billion, Fish Information & Services reported.


Nguyen Thi Thu Nguyet, Vietnam’s deputy director general of the Directorate of Fisheries, said the seafood production value growth rate in 2022 is 3% up compared to 2021, with total production at 9.06 million tonnes. This was 3.1% higher compared to 2021. Aquaculture accounts for 5.19 million tonnes of exports.

 

The US$11 billion export turnover is up 23.8% from the same period in 2021 (US$8.89 billion) and 22.2% up than the US$9 billion expected goal. Brackish water shrimp exports revenue totaled US$4.1 to US$4.2 billion (up nearly 13% from 2021), while pangasius export revenue totaled US$2,350 million (up nearly 70% from 2021).

 

Vietnam’s fishing industry is expected to face challenges in 2023. This includes the issue of illegal, unreported and unregulated (IUU) fishing, as well as the recent World Bank (WB) assessment predicting global growth will slow, having an impact on all import markets. The challenge of standardising the national production process, particularly in terms of data to support industry production, goes hand-in-hand with that.

 

Le Hang, director of communications for the Vietnam Association of Seafood Exporters and Producers (VASEP), said the market advantages in the fourth quarter of 2022 and the first quarter of 2023 won't exist, because exports declined in the first quarter of 2023 as a result of inflation's significant impact on global consumer demand.

 

Phung Duc Tien, Vietnam’s Deputy Minister of Agriculture and Rural Development, said Vietnam's seafood sector export success is a reflection of the efforts of all parties involved in the seafood industry supply chain, including businesses that process and export seafood.

 

Phung said the historically high seafood exports will be used by the ministry as the foundation to guide Vietnam’s Directorate of Fisheries in its management tasks.

 

Vietnam’s fishing industry set the 2023 target for total aquaculture area at 1.3 million hectares, total seafood production at 8.74 million tonnes, and export revenue at roughly US$10 billion.

 

Phung said since August 2022, there have been issues with both the economy in general and the fishery in particular. Vietnam’s Ministry of Agriculture and Rural Development will instruct the Directorate of Fisheries to implement solutions to ensure sustainability and the momentum of growth, to reach the targeted export business volume based on the analysis of the results obtained, as well as the challenges and difficulties that the industry will face.

 

-      Fish & Information Services

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