Vietnam: Seafood exports expected to exceed $10 billion in 2025

Published 2024년 12월 23일

Tridge summary

Vietnam's seafood exports are expected to exceed $10 billion in 2025, with a growth forecast of between 10 and 15 percent, building on an estimated 13 percent increase in 2024. This growth is driven by the aquaculture and marine capture products. However, the industry faces challenges such as trade barriers and competition. The US Department of Commerce (DOC) is conducting anti-subsidy investigations, and the industry also faces competition from other countries. The shrimp remains the flagship product, projected to account for $4 billion in exports. Mainland China is the leading importer of Vietnamese seafood, followed by the US.

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Original content

The achievement of the $10 billion export milestone in 2024 is attributed in part to efforts to open and strengthen connections with key markets such as the US and the EU. Việt Nam’s seafood exports are projected to surpass US$10 billion in 2025, with a growth forecast of between 10 and 15 per cent, building on an estimated 13 per cent increase in 2024 to reach that goal of $10 billion dollars. These optimistic projections were higlighted by Nguyễn Hoài Nam, Deputy General Secretary of the Việt Nam Association of Seafood Exporters and Producers (VASEP), at the forum on 'Connecting Production and Consumption of Coconut Products' in mid-December. Nam pointed to two key drivers for the seafood industry in 2024 - aquaculture and marine capture products. These successes would lay a solid foundation for the sector's breakthrough in 2025. However, the industry faces challenges, including trade barriers such as anti-subsidy investigations by the US Department of Commerce (DOC). Nam ...

Source: WTOCenter