Vietnam Fisheries Industry Report was prepared by VietnamCredit in June 2020, including general information about Vietnam's economic situation, an overview of the fisheries industry and its current situation in 2019 as well as the opportunities, challenges, and forecasts for the future industry development. In addition, the report also presents information of 10 typical businesses in the fisheries sector selected by VietnamCredit, based on the criteria of company scale, credit rating, and business performance in three consecutive years 2017, 2018, and 2019.
Over the past years, along with the stable development of the economy, Vietnam's fishery industry has made great strides and become an important sector in Vietnam's economic structure. The value-chain of fisheries sector has been formed with the participation of numerous economic sectors, although there is still a lack of sustainable linkages. The consumption market of Vietnam's seafood industry is growing significantly. The United States, Japan, the EU, and China are major import markets of the fisheries industry, representing 60% of the total export value.
The structure of enterprises and employees in the industry witnessed a deep disparity between the fishing and aquaculture industries. Besides, the scarcity of technical labor is putting more pressure on the fisheries industry, especially in the field of aquaculture, leading to a number of constraints for the development of the whole sector.
In 2019, Vietnam’s fisheries sectors suffered several difficulties related to seafood exports, especially with two key commodities, shrimp and pangasius fish. In addition, the Sino-American trade war has imposed considerable challenges on the fishery industry.
Due to the effects of Covid-19 epidemic in early 2020, many orders were congested, canceled or suspended, causing the companies to suffer from increasing additional costs for human resources, preservation, and inventories. On 8 June 2020, the National Assembly voted to approve the EVFTA Agreement, promising great opportunities for Vietnam's fisheries products in export activities with European market. However, before that, Vietnam needs to put great efforts to remove the EC's "yellow card" warning, improve the reputation of fisheries products in the EU market to optimize the advantages from this Agreement.
Table of Contents
1. Vietnam’s Economic Situation
1.1. Economic growth
1.2. Trade and prices
1.3. Realized capital, State budget revenue and expenditure
1.4. Import-export activities
1.5. Establishment and dissolution of enterprises
2. Vietnamese Fishery Industry’s Development
2.1. Vietnamese fishery industry overview
2.2. Enterprises and labor in Vietnam’s fishery industry
2.3. Key ratios of Vietnam’s fishery industry
2.4. Fishery industry average financial ratios 2019
2.5. Opportunities, challenges and industry forecasts
3. 10 outstanding companies in Vietnam’s fishery industry in 2019
List of figures
Figure 1.1.1: Vietnam GDP Growth Rate 2011-2020
Figure 1.2.2: GDP Growth, CPI and Inflation (Last year = 100)
Figure 1.2.1: Total retail sales of consumer goods and services at current prices 2015-2019
Figure 1.2.3: Producer price index by sector compared to previous quarter
Figure 1.2.4: Commodity terms of trade growth rate 2015-2019 (%)
Figure 1.3.1: Growth rate and structure of social investment capital in the first quarter of 2016-2020 period at current prices
Figure 1.4.1: Import-export turnover and trade balance of goods 2011-2019 (US $ billion)
Figure 1.5.1: Enterprise Establishment in Q1/2020 (compared to Q1/2019)
Figure 2.1.1: Vietnam Fisheries Value-Chain by Industry
Figure 2.2.1: Number of enterprises and labors in fisheries industry by sector in value-chain
Figure 2.2.2: Aquaculture enterprise structure
Figure 2.2.3: Enterprises and labors in fishing and aquaculture
Figure 2.2.4: Enterprises and labor in breeding of fisheries
Figure 2.3.1: Fisheries volume and growth rate by sector 2011-2019
Figure 2.3.2: Farmed shrimp by region
Figure 2.3.3: Key provinces for fisheries production in Vietnam
Figure 2.3.4: Vietnam’s seafood export value Q1/2019 - Q1/2020 (USD million)
Figure 2.3.5: Seafood export value of Vietnam’s key markets Q1/2020
Figure 2.3.6: Seafood import turnover Q1/2020 by market
Figure 2.3.7: Volume and value of export seafood products in 2019
List of tables
Table 1.1.1. GDP growth by sector Q1/2020 at current prices
Table 2.4.1: Fishery industry average financial ratios 2019
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A - Agriculture, Forestry and Fishing
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01 - Agriculture and related service activities
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011 - Growing of annual crops
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012 - Growing of perennial crops
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013 - Propagation and growing of agricultural cultivars
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014 - Animal production
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015 - Mixed crop-livestock farming
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016 - Support activities to agriculture
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017 - Hunting, trapping and related service activities
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02 - Forestry and related service activities
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021 - Silviculture and other forestry activities and propagation of forest trees
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022 - Wood logging
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023 - Extraction and gathering of non-wood forest products
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024 - Support services to forestry
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03 - Fishing and aquaculture
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031 - Fishing
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032 - Aquaculture
