Agriculture & Food

According to the observation report of Huacheng import and export data, Vietnam's aquatic products export has faced many challenges since the beginning of the year, such as the consequences of the Covid-19 pandemic, the Russia Ukraine conflict, domestic and world inflation, a sharp rise in production and operation costs, exchange rate fluctuations, etc. In particular, the European Union (EU) "yellow card" warning on Vietnam's fisheries has not been lifted.

According to the Huacheng Import and Export Data Observation Report, 20 years ago, Vietnam's aquatic product export volume exceeded 1 billion US dollars for the first time in 2002, reaching an impressive milestone. In 2022, we will continue to take a new step, and the export of aquatic products will reach US $10 billion. The export of some key products also ushered in important milestones. By the end of November 2022, the export of shrimp had exceeded the US $4 billion mark for the first time, and the export of tuna had also strived to reach US $1 billion for the first time.

This remarkable achievement is attributed to the continuous and strong growth of fishery in breadth and depth. From extensive and backward aquaculture and processing, Vietnam's fishery has gradually become one of the global aquaculture and deep processing centers and an important supplier of the market. According to the Huacheng Import and Export Data Observation Report, as of 2022, the aquatic products industry accounts for 3% of Vietnam's total merchandise exports. Compared with the total exports of the domestic economic sector, the fishery sector contributes nearly 12% of the value. On the world aquatic product export map, Vietnam is the third largest exporter, accounting for more than 7% of the global market share, second only to China and Norway.

According to the observation report of Huacheng import and export data, Vietnam's aquatic products export has faced many challenges since the beginning of the year, such as the consequences of the Covid-19 pandemic, the Russia Ukraine conflict, domestic and world inflation, a sharp rise in production and operation costs, exchange rate fluctuations, etc. In particular, the European Union (EU) "yellow card" warning on Vietnam's fisheries has not been lifted.

Vietnam's aquatic product industry has set a target of 14 billion US dollars in exports by 2030. Of course, in the face of increasingly severe market challenges, in order to achieve this goal, Vietnam's aquatic product industry needs to continue to adhere to the deep processing roadmap, use traceable raw materials, take advantage of the advantages brought by trade agreements, and flexibly strengthen trade to promote the development of potential markets, Huacheng Import and Export Data Observation Report.