A Growing Aquaculture Industry
Vietnam is geographically endowed with ideal conditions for its thriving aquaculture sector. Accordingly, the sector
plays an important role in the country’s economy.
Vietnam is ranked as the world’s third largest aquaculture producer. In 2022, the aquaculture export turnover is estimated to making a record-breaking number of $11 billion USD, increasing 23.8% compared to 2021, and 22.2% over the projection.
Aquaculture production reached 5.19 million tons, up 7% compared to 2021 and 3.7% increase over the projection. Fisheries output reached 3.86 million tons
In 2023, the aquaculture farming area will basically stabilize at 1.3 million hectares.
(Source: Vietnam Directorate of Fisheries (MARD))
After the epidemic, Vietnam is considered as one of the ASEAN countries with the fastest recovery rates. Vietnam’s GDP is anticipated to grow by 8.02% in 2022 compared to 2021. The agriculture sector grew by 2.88%, adding 0.27% percentage points to the overall economy’s growth rate of total added value
Over 506 trillion VND in total output value was estimated for the livestock industry in 2022, an increase of 5.5% from the 2021 estimation. Seven million tonnes were estimated in 2022 to be the highest-ever live hog output; 18.4 billion eggs and 1.1 million tonnes of milk were produced.
About 80% of the raw materials used to produce animal feed in Vietnam are imported; the feed production cost in 2022 increased by 38% year-on-year and even doubled the cost in 2020.
Vietnam proudly is the 1st country in the region successfully invented Africa Swine Fever’s vaccination to enhance the confidence in the battle of combatting ASF
In 2022, the total number of pigs climbed by 11.4% compared to 2021, while the cows number increased by 3.1%, and poultry number increased by 4.8%.
(Source: Vietnam General Statistics Office, Ministry of Agricultural and Rural Development)