Vietnam's shrimp export industry is projected to see a notable increase of 10-15 percent this year, reaching a turnover of $4-4.3 billion, as reported by the Vietnam News Agency on Monday, citing the Vietnam Association of Seafood Exporters and Producers.
The United States and China are anticipated to maintain their positions as the top two markets for Vietnamese shrimp exports, collectively constituting approximately 40-45 percent of the shrimp export value, according to the association. With the rising demand for protein from aquatic sources, particularly shrimp, the outlook for seafood production appears promising.
Forecasts suggest that China will emerge as an increasingly attractive market for Vietnamese shrimp exporters, thanks to its proximity to Vietnam.
In 2023, Vietnam's shrimp exports totaled around $3.38 billion, marking a decline of 21.7 percent compared to the previous year. Factors contributing to this decrease include weakened global market demand and intensified competition from countries like Ecuador and India, the association noted.
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