HCMC – Vietnam’s seafood exports in the first nine months of this year edged up by 8.5% over the same period last year to US$7.16 billion, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Third-quarter exports hit a record US$2.7 billion, up by 13% year-on-year, with September performance contributing US$866 million, up by 6.4% from a year earlier.
Key products contributing to the growth include tra fish (pangasius), shrimp, crab, and mollusks, which saw respective export increases of 13.5%, 17.5%, 56%, and 95%.
Tuna exports rose by 16% in the first nine months to US$715 million but declined by nearly 6% in September due to raw material shortages caused by minimum catch size regulations.
Tra fish outbound shipments for the nine-month period reached US$1.46 billion, up by 8%. The growth was mainly driven by processed tra fish products, while frozen whole fish and fillets saw modest increases.
Shrimp exports totaled nearly US$2.8 billion, jumping by 10.5%, with processed shrimp rising nearly 10%. However, frozen shrimp exports faced challenges due to volatile market prices.
VASEP attributed the positive results to product diversification, recovering market demand, and rising prices, which created a favorable business environment. The seafood industry is projected to reach US$9.5 billion in exports by the end of 2024, up by 7% year-on-year.
