Vietnam: Seafood exports reached nearly 9.2 billion USD after 11 months, likely to reach the target in 2024

Published 2024년 11월 29일

Tridge summary

Vietnam's seafood export industry is projected to hit a record 10 billion USD in 2024, with significant growth in key products such as shrimp, pangasius, and tuna, as well as by-products like fishmeal. The Chinese market absorbs nearly 90% of fishmeal exports. Both the Chinese Hong Kong and US markets have shown strong growth in November. Despite some markets like Japan, EU, and Korea not experiencing major growth in November, they still contribute substantially to the total seafood export turnover. Shrimp and pangasius are expected to be the main contributors to this growth, with projections of 4 billion USD and 2 billion USD respectively.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

2024 is witnessing strong growth in Vietnam's seafood export industry, approaching the 10 billion USD mark, marking an important milestone in the industry's export development journey. Specifically, shrimp exports still maintain impressive growth momentum, reaching an increase of 22% in November, and are forecast to reach the 4 billion USD mark by the end of the year. Other products such as pangasius and tuna also recorded positive growth. Pangasius reached 1.84 billion USD in the first 11 months of the year, and is forecast to reach 2 billion USD by the end of 2024. Tuna, although growing more slowly, still increased by 8% compared to November 2023, and could reach 1 billion USD as the record in 2022. In addition, some products such as crab, shellfish and octopus also recorded high growth, of which shellfish had an impressive growth rate of up to 180%. In addition to key products, Vietnam's seafood export industry also strongly develops by-products such as fishmeal. Fishmeal ...

Source: Vietstock