In 2024, despite facing many challenges, shrimp exports still recorded impressive results. The five key markets, including China & Hong Kong (China), the US, Japan, the EU, and South Korea, account for 76% of Vietnam’s total shrimp exports.
2024 is a brilliant year for shrimp exports. Vietnam exported shrimp to 107 markets worldwide, an increase of five markets compared to 2023.
Shrimp exports have taken advantage of the recovery in demand and import prices in the US and China. Therefore, shrimp exports to these two markets have increased strongly. In addition, enterprises still maintain their position in markets such as Japan, South Korea, and the EU thanks to their reputation and product quality, as well as the advantage of value-added processed shrimp products.
Regarding the Chinese and Hong Kong (China) markets, in 2024, shrimp exports to these markets reached 843 million USD, an increase of 39% compared to 2023. Thanks to strong growth, China and Hong Kong (China) have surpassed the US to become the largest shrimp import market for Vietnam.
Five markets accounted for 76% of Vietnam’s total shrimp exports in 2024.
In the structure of Vietnamese shrimp products exported to China and Hong Kong (China) in 2024, other types of shrimp accounted for the highest proportion at 51.7% due to China’s significant increase in importing lobsters from Vietnam. Next, white-leg shrimp accounted for 36.1%, and tiger shrimp accounted for 12.2%.
The US ranked second. Accordingly, in 2024, Vietnam’s shrimp exports to this market reached 756 million USD, an increase of 11% compared to 2023. White-leg shrimp accounted for the largest proportion (84.3%).
The third position was Japan. In 2024, shrimp exports from Vietnam to this market reached 517 million USD, an increase of 1% compared to 2023.
The EU ranks fourth among the top five export markets for Vietnamese shrimp. Last year, shrimp exports to this market were 484 million USD, an increase of 15% compared to 2023. Germany, the Netherlands, and Belgium were the three largest import markets in the bloc. In the structure of shrimp products exported to the EU in 2024, white-leg shrimp accounted for the largest proportion with 80.6%.
The South Korean market ranked fifth with 334 million USD, a decrease of 3% compared to 2023.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in 2024, shrimp exports reached nearly four billion USD, an increase of 15% compared to 2023. Overall, in the export turnover of 10 billion USD that the seafood industry achieved in 2024 (with a growth rate of about 13%), shrimp exports alone accounted for 40%.