CHAPTER II: Export of Agricultural Commodities 

I. Export of Agricultural Products, 

2.6. Fisheries 

a) Export

In 2022, Vietnam's seafood industry has recovered impressively, completed early and surpassed the target of 10 billion USD. For the whole year 2022, Vietnam's seafood export turnover reached nearly 11 billion USD, up nearly 23% compared to 2021.  By type: In 2022, accounting for the largest proportion in the seafood export structure is shrimp with a value of 4.3 billion USD, accounting for about 39.5% of the export value of the industry, up 11% compared to 2021.

Ranked second is pangasius, reaching 2.35 billion USD, accounting for more than 22% and growing strongly by 70% compared to 2021. Tuna is also an industry with strong growth compared to 2021 with an increase of 34%, reaching 1 billion USD, accounting for nearly 9.2% of the proportion. Exports of squid and octopus also grew strongly by nearly 30%, reaching nearly 80 million USD. About the market: In 2022, Vietnam's seafood exports the most to the US market, accounting for nearly a quarter of the country's total seafood export turnover, reaching over 2 billion USD, increased nearly 10% compared to 2021. The export value to the Chinese and Japanese markets is not much different, both reaching in the range of 1.6-1.7 billion USD. Exports to the Korean market also reached nearly 900 million USD. The CPTPP bloc (including Japan), accounting for over 26% of Vietnam's total seafood exports with 2.7 billion USD, up 34% compared to 2021. The EU market has also imported over US$1.2 billion worth of Vietnamese seafood.

b) Evaluation and judgment

- 2022 is the first year that the seafood industry achieved a record export turnover of 11 billion USD thanks to many advantages of the market in the first quarters of 2022 such as high demand, increased export prices, and stable supply... However, these factors are forecast to no longer continue in the early part of 2023 as inflation has seeped into the economies of countries, causing demand and orders to plummet. This phenomenon has been evident since the fourth quarter of 2022 when order demand fell sharply at the end of the year (usually this is the occasion of a spike in orders for the Christmas and New Year holidays) in key markets such as Europe and the United States, including for food consumer goods.

- The foreign currency policy mechanism of other countries, as well as the continuously adjusted USD exchange rate have affected the import of raw materials of enterprises. Many major economies have adjusted interest rate hikes to curb rising inflation, leading to local currencies depreciating against the dollar, and limiting trade demand. - Some of Vietnam's key exports to EU markets with the US are facing pressure on trade defense investigations and origin fraud. Fierce competition from exporting countries with similar products like Vietnam such as India, Ecuador, Indonesia,...,

However, the fisheries sector still has optimistic hopes for good signals from some markets with more stable economies that are less affected by inflation such as ASEAN, the Middle East and CPTPP countries. In particular, China's removal of strict controls on imports such as testing, disinfection and quarantine will be more favorable for exports to this market. On February 2, 2023, according to information from the Ministry of Agriculture and Rural Development, the Plant-Based Food Export Registration Guidelines System to China (CIFER), under the General Administration of China Customs has officially approved, adding 23 more Vietnamese enterprises allowed to export seafood to the country. To date, the CIFER system has announced more than 800 Vietnamese enterprises eligible to export seafood to this country.