Shrimp exports increased by 71% over the same period

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in January this year, shrimp exports reached $ 242 million, an increase of 71% over the same period in 2023.

Among the main markets of Vietnamese shrimp, China-Hong Kong had the strongest growth in January, reaching $ 42 million, an increase of 275% compared to January 2023. Thanks to strong growth, China - Hong Kong became the largest market for Vietnamese shrimp in January 2024, accounting for 17.5% of Vietnam's exports.

China has having great demand for shrimp imports, meanwhile, Ecuador's shrimp exports (the main competitor of Vietnamese shrimp in the Chinese market) in 2024 will likely not be very smooth due to insecurity in the shrimp industry and general difficulties of the global shrimp industry. This can be considered an opportunity to promote Vietnamese shrimp exports to China this year.

Also in January, shrimp exports to the US continued the growth momentum from the last months of 2023, increasing 77% to $ 41 million. In the US market, Vietnamese shrimp accounts for 10% of the market share, ranking 4th after India (36%), Ecuador (22%), and Indonesia (18%).

Shrimp exports to Japan and Korea in the first month of this year grew by 30% and 21%, respectively, reaching $ 37 million and $ 23 million.

After a continuous decline in 2023, shrimp exports to the EU recorded an increase of 22% and reached $ 30 million in the first month of this year.

Among exported shrimp products, white leg shrimp and black tiger shrimp products recorded a 2-digit growth, while the export value of other types of shrimp recorded a 3-digit growth. Fresh/frozen shrimp products grew stronger than processed shrimp products.