Vietnam’s shrimp exports near $4bn in January-October

The association attributed the sharp growth to recovering demand in key markets and accelerated shipments by seafood companies ahead of the year-end peak season.

In October alone, exports hit $498 million, up 26 percent from a year earlier, marking one of the highest monthly figures of the year.

This reflected strong buying interest, particularly from Asian markets, and more aggressive delivery schedules by exporters.

The growth in October was driven mainly by white-leg shrimp and a sharp rise in demand from China, where consumption of live, fresh, and frozen shrimp remains high.

In January-October, exports to China (including Hong Kong) reached $1.1 billion, accounting for the largest share of 28.2 percent of Vietnam’s total shrimp exports and marking a 64-percent year-on-year spike, the strongest growth among all major markets.

Exports to markets under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership surpassed $1 billion, up 33 percent from a year ago, supported by stable demand from Japan, Canada, and Australia.

The U.S. market reached $702 million, a nine-percent increase, showing resilience despite stiff competition from Ecuador and India.

White-leg shrimp made up nearly 65 percent of the total export value, with turnover of $2.5 billion, making it the fastest-growing segment thanks to competitive pricing and broad market appeal.

Black tiger shrimp generated $385 million, maintaining stable demand in traditional markets such as Japan and in the large-size segment in China.

Other processed frozen shrimp products brought in $991 million.

VASEP noted that seafood enterprises are increasingly shifting toward higher value-added shrimp products while optimizing factory capacity.

Asian markets have continued to play a central role in export growth since the beginning of the year.

Mainland China and Hong Kong recorded an expansion of more than 60 percent, Taiwan saw a strong increase in October, while South Korea maintained a moderate rise.

According to the association, improving economic conditions in Asia and Vietnam’s geographical proximity to key markets have helped boost regional demand.

Meanwhile, the U.S., Japan, and the EU have continued to post stable growth, particularly for processed and value-added shrimp products.

Vietnam currently has more than 350 shrimp processing facilities eligible for export and is regarded as having advanced technology and a strong competitive edge in value-added shrimp products.

Despite the strong performance, VASEP warned that the export expansion could slow in the last two months of the year over tax pressures and trade defense measures from the U.S., Vietnam’s second-largest shrimp buyer.

However, the impact could be contained if companies keep focusing on high value-added products, diversifying their export markets, and maintaining steady quality standards.

Vietnam has set a target of $4-4.3 billion in shrimp exports for 2025.