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The seafood industry aims to export US$10 billion in 2023

In 2023, the seafood industry aims to achieve a total seafood output of approximately 8.74 million tons, with an export turnover of around US$10 billion.

At a conference summarizing the results of 2022 and outlining the plans for 2023, the Directorate of Fisheries, Ministry of Agriculture and Rural Development, Deputy Minister of Agriculture and Rural Development Phung Duc Tien stated that the seafood export turnover production in 2022 is expected to reach around US$11 billion, an increase of 23.8% compared to the same period in 2021 and 22.2% higher than the plan (US$9 billion). This is the highest number ever achieved by the industry.

The results achieved by the fisheries sector in 2022 serve as the foundation for the Ministry of Agriculture and Rural Development to evaluate and direct the implementation of the Strategy for the development of Vietnam's fisheries to 2030, with a vision to 2020-2045.

Deputy Minister Phung Duc Tien acknowledged that the economy in general, as well as the fisheries sector in particular, has faced difficulties and challenges. However, from the third quarter of 2022, the Ministry will direct the Directorate of Fisheries to implement practical solutions to ensure the growth momentum and export turnover.

"Despite setting a target to export seafood to reach US$10 billion for 2023, the industry still has to be flexible and be able to make quick decisions to accelerate at the right time, especially in the context of high inflation, supply chain disruptions, and high input prices," said Deputy Minister Phung Duc Tien.

Source: VNA

According to the Directorate of Fisheries, the growth rate of seafood production value is expected to increase by 3% compared to 2021, with a total output reaching 9.06 million tons, an increase of 3.1% compared to 2021 (8.79 million tons). This result has exceeded the average annual increase in the period 2021-2030 according to the Vietnam Fisheries Development Strategy to 2030, with a vision to 2045.

Notably, the mining output reached 3.86 million tons, a decrease of 1.8% compared to 2021; sea fishing output alone reached 3.66 million tons, a decrease of 2% compared to 2021. Aquaculture reached 5.19 million tons, an increase of 7% compared to 2021 (4.85 million tons) and 3.7% as planned (5 million tons).

In 2023, the fisheries sector aims to stabilize the farming area at 1.3 million hectares. The industry will continue to gradually reduce catches, increase aquaculture production, and implement solutions to increase value for both aquaculture and capture output to increase the production value of aquatic products, meeting growth and export goals.

The Directorate of Fisheries has set a target that in 2023, the total fishery production will reach about 8.74 million tons, equaling 96.7% of the estimated implementation in 2022. Among them, the fishing output will be about 3.58 million tons, farming 5.16 million tons. Seafood export turnover is expected to reach about US$10 billion.


Seafood Industry Report - December 2022


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