Vietnam's aquaculture industry is expected to exceed its plan and lay a solid foundation for development in 2025

Published 2024년 12월 9일

Tridge summary

Vietnam's aquatic industry is poised to reach or exceed a $10 billion export target for 2024, with a 3% increase from the previous year. This is driven by a 12% increase in exports as of October 2024, totaling $8.33 billion, and a monthly export value exceeding $1 billion for the first time in 27 months. The industry's growth is led by major products such as shrimp, pangasius, and tuna, with the United States, China, and Japan being key markets. The Vietnamese government's National Plan for the Conservation and Development of Vietnam's National Aquatic Resources by 2030 and various free trade agreements aim to ensure sustainable growth and expansion of the industry.

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

Original content

The $10 billion export target is entirely feasible According to the Ministry of Agriculture and Rural Development of Vietnam, the export target for the aquatic industry in 2024 is $9.5 billion, a 3% increase from 2023. However, with positive signs in recent months, this target can be adjusted to $10 billion this year. As of October 2024, Vietnam's aquatic product exports reached $8.33 billion, a 12% increase from the same period in 2023. It is worth noting that the export value in October 2024 reached $1.1 billion, the first time in the past 27 months that the export value exceeded $1 billion in one month. The export of major products such as shrimp, pangasius, and tuna has all grown positively. In the first 10 months of this year, shrimp exports reached $3.2 billion, a year-on-year increase of 13%; pangasius exports reached $1.7 billion, an increase of 9%; tuna exports exceeded $821 million, an increase of 18% . With this growth momentum, Vietnam's aquatic industry is confident ...

Source: Foodmate