Vietnam’s pangasius exports expected to surpass $2 billion in 2024

Published Nov 27, 2024

Tridge summary

Vietnam's pangasius exports are on a growth trajectory, with a 9% increase in October 2024, reaching $61 million. Despite this, the export value to China and Hong Kong fell by 2% year-on-year. However, exports to the U.S. saw a significant surge, with a 65% increase in October 2024. The re-election of U.S. President Donald Trump could impact these exports with potential new import tax policies. Favorable results from the 20th administrative review have been announced for Vietnamese exporters. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is the third-largest market for Vietnamese pangasius exports. With strong demand, particularly during the Lunar New Year and New Year holidays, exports are projected to surpass $2 billion in 2024.

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

Original content

China and Hong Kong remain the largest consumers of Vietnam's pangasius exports. In October 2024, this market imported $61 million worth of pangasius, up 9% year-on-year. However, the total export value to China and Hong Kong in the first 10 months fell by 2% year-on-year to only $479 million. Exports to the U.S. surged in the first month of the final quarter, with a 65% increase compared to the same period last year, amounting to over $35 million. Over the first ten months, total exports to the U.S. reached over $291 million, a 28% increase year-on-year. The re-election of President Donald Trump, who will begin his second term next year, is expected to introduce new import tax policies, potentially impacting pangasius imports. Guided by his "America First" agenda, “Make America Great Again” movement and focus on economic growth, Trump's policies could influence Vietnam's export sector, including pangasius. However, projections remain optimistic, with expectations of increased ...

Source: Vasep