HCMC – Vietnam’s seafood exports surged 28% year-on-year to exceed US$1 billion in October, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
This robust performance brought total export revenue for the first 10 months of 2024 to US$8.27 billion, up by 11.4% from the same period last year.
Revenue from key markets fueled this growth, with exports to China and Hong Kong (China) soaring 37%, the U.S. rising 31%, the European Union climbing 27%, and Japan increasing 22%.
Shrimp export revenues totaled over US$3.2 billion, a 13% year-on-year rise, while pangasius exports picked up by 10% to US$1.7 billion.
High-value products like crab and other crustaceans posted strong growth, with crab fetching US$267 million and shellfish exports surging 138% year-on-year.
However, stricter origin regulations under Government Decree 37 have led to delays at Vietnamese ports, partially slowing exports of species like tuna as suppliers adapt to meet international standards.
The industry is awaiting an upcoming EU inspection on illegal fishing practices, scheduled for this month. Positive results could affirm Vietnam’s compliance with international standards and further boost exports, particularly in the tuna sector.
