The economy of the US - the largest importer of Vietnam seafood in 2012 witnessed moderate growth in the first quarter of 2013. The process of deleveraging in the households and financial sectors is expected to gradually ease over the next years. This may help to improve lending conditions, ease credit constraints and strengthen consumption spending. 

Global consumption of seafood is forecasted to rise over the long-term. According to the FAO, by 2015, the consumption demand would reach 165 million tons which increase by 2.1%/year on average, and consumption per capital would reach 14.3 kg (the current level of about 14 kg). The UN predicts that the world population would increase by 2 billion people in the next 20 years. Therefore, the consumption in developing countries is expected to grow up. It is obvious that pressure on seafood resources will increase, but it’s also opportunities for the global fishery industry in general and Vietnam’s fishery industry in particular.

Local demand for fish and other seafood products is expected to increase rapidly over time due to growth of population from 90,7 million to 97,7 million (annualized rate of 0,8% in the 2013-2022 period), and increase of real incomes (GDP per capital is forecasted to increase by 11,8% per year in the same period). According to the Vietnam’s Fisheries General Department - Ministry of Agriculture and Rural Development, the overall development plan for Vietnam’s fishery sector until 2020 focuses on large-scale production with appropriate and efficient production models that could bring high yield and high-quality products. This is a positive sign for the longterm development of the whole industry. The sector’s total output is expected to reach 9 million tons between 2020 and 2030, 70% of which would come from aquaculture. Export turnover is also projected to climb from $10biliion to $20 billion at the same time.