Vietnam: Canadian seafood market, potential and potential for export

The Canadian seafood industry is a significant contributor to the country's economy, with exports reaching CAD 6.4 billion in 2020 and employing around 68,000 people. The industry operates 881 aquaculture facilities with a capacity of 170,000 tons per year, primarily cultivating salmon. In 2021, Canada's seafood trade surplus exceeded CAD 4 billion, with the United States being the largest consumer of Canadian seafood exports. The Canadian government oversees the management and sustainability of the industry through various departments and agencies, ensuring compliance with strict product and process standards for both domestic and international trade. From 2012 to 2021, Canada imported over $2 billion in seafood annually, with the United States, China, Chile, Vietnam, Norway, India, Indonesia, Thailand, Iceland, and Ecuador being the top exporters. Vietnam has seen a significant increase in seafood exports to Canada in the first 9 months of 2022, reaching a 56.5% increase compared to the same period in 2021, and is on track to exceed $200 million in exports for the first time this year.