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VIETNAM – Vietnam’s seafood industry is projected to reach US$11 billion in export earnings this year, a milestone not achieved since 2022.
The Vietnam Association of Seafood Exporters and Producers (VASEP) revealed that despite global challenges, the sector remains resilient and poised for growth.
The seafood sector in Vietnam faced hurdles in recent years, including heightened competition, trade disputes, and restrictive market policies.
However, industry stakeholders remain optimistic about achieving 2025’s export target.
In 2022, Vietnam exported over US$10 billion worth of seafood, making it the third-largest seafood exporter globally.
The country accounted for over 7% of the global seafood market, trailing behind China and Sweden.
This marked a significant recovery for the industry, with a 34% year-on-year growth compared to 2021, according to VASEP data.
By contrast, 2023 saw a decline in export value, which fell to US$8.97 billion.
Despite the drop, aquatic products remained among Vietnam’s top export commodities.
Concurrently, seafood production slightly increased to 9.31 million metric tons, up from 2022 levels.
This total included 3.63 million metric tons from aquaculture and 3.62 million metric tons from marine capture fisheries.
Aquaculture, in particular, demonstrated growth in 2023, with farmed seafood production rising by 4.2%.
However, marine capture fisheries experienced a slight contraction, with production decreasing by 0.5%.
Fish remained the dominant product in aquaculture, with tilapia and common carp among the key species farmed. Mollusks also contributed significantly to the production figures.
Vietnam imported US$2.59 billion worth of fishery products in 2023.
The year-end export value was estimated at US$9.2 billion, indicating a continued but reduced presence in international trade compared to earlier years.
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