Vietnam’s seafood exports in November reach nearly USD 1 billion
Following the October peak of USD 1 billion, Vietnam’s seafood exports in November slightly decelerated but still maintained growth, with a value of USD 924 million, up 17% compared to the same period in 2023. Cumulatively, by the end of November, Vietnam’s total seafood export turnover reached nearly USD 9.2 billion, marking an 11.5% increase year-over-year.
The year 2024 has witnessed robust growth in Vietnam’s seafood export sector, edging closer to the USD 10 billion milestone.
Shrimp exports continued their upward momentum, growing 22% in November and are forecast to hit USD 4 billion by year-end.
Other products, such as pangasius and tuna, also recorded positive growth. Pangasius exports reached USD 1.84 billion in the first 11 months and are projected to surpass USD 2 billion by the end of 2024. Tuna exports, despite slower growth, still rose 8% compared to November 2023 and are likely to reach USD 1 billion, matching the record of 2022. Additionally, several products, including crab, shellfish, and squid, showed strong growth, with shellfish achieving an impressive 180% increase.
China – Hong Kong emerged as the leading market for Vietnamese seafood imports, with a growth rate of 61% in November, bringing cumulative turnover to over USD 1.7 billion, a 19% increase from the same period last year.
The U.S. market also recorded positive growth of 21% in November, reaching USD 1.67 billion after 11 months, with a promising outlook for December, despite potential new tariff measures from the U.S. government.
By the end of the year, with the current growth trajectory, Vietnam’s seafood industry is likely to meet its USD 10 billion export target, representing an 11.5% increase compared to 2023. Shrimp and pangasius remain the two key pillars driving this success, with shrimp exports expected to reach USD 4 billion and pangasius likely to surpass USD 2 billion.
VFM
