Vietnam’s shrimp export sector is celebrating a significant achievement, with estimated revenues reaching nearly $2.8 billion in the first nine months of 2024. This remarkable figure positions shrimp as the top-performing aquatic product, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). The revenue marks a robust 10.5% increase compared to the same period last year, reflecting the resilience and competitiveness of Vietnamese seafood in global markets.
Despite facing strong competition from Ecuador and India in the frozen shrimp category, Vietnam’s processed shrimp has continued to shine. The export of processed white-leg shrimp surged by nearly 10%, while frozen white-leg shrimp exports experienced a solid 4.5% increase, showcasing the adaptability of Vietnam’s shrimp industry.
Positive results are evident across major markets, further solidifying Vietnam’s position in international trade. As of September 15, shrimp exports to the United States reached $516 million, while the European Union accounted for $337 million. Shipments to China and Hong Kong also performed well, totaling $529 million and reflecting impressive year-on-year growth of 8%, 15%, and 26%, respectively.
With a bright outlook, VASEP projects that Vietnam is on track to achieve nearly $4 billion in shrimp exports by the end of this year. This achievement not only highlights the strength of the shrimp industry but also underscores the important role of trade in Vietnam’s economic growth and global seafood supply chain.
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