Vietnam crab exports continue to surge

Published Jul 10, 2024

Tridge summary

Vietnam has experienced a significant surge in crab and crustacean exports to China and Hong Kong, which now account for 42% of the total export turnover, with a 418% increase in May 2024 alone. Despite this, the growth rate is beginning to decline. On the other hand, exports to Japan have seen a decrease over the past two months. There has been positive growth in exports to the US and Canada, while exports to the EU have decreased due to the European Commission's 'yellow card' warning for Vietnam's fishing industry.

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

Original content

China and Hong Kong are still Vietnam's largest import markets for crabs and other crustaceans, accounting for 42% of total export turnover. The export value to this market is increasing rapidly, reaching three-digit growths over the same period, but the growth rate is slowing down. In May 2024 alone, exports of crabs to this market increased by 418% over the same period, reaching nearly 11 million USD. Cumulatively, in the first 5 months of the year, exports to this market reached more than 41 million USD, an increase of 502%. Meanwhile, exports to Japan have decreased continuously in the past two months. The export value to Japan in May 2024 decreased by 9% over the same period, reaching more than 6 million USD. However, thanks to the growth in the first quarter, cumulative exports to this market in the first 5 months of the year still increased by 7%, reaching nearly 29 million USD. Exports to the US and Canada are also growing positively, with ...

Source: Vasep