For over two decades, Vietnam’s shrimp industry has been at the forefront of the nation’s seafood export sector. Annually, shrimp export turnover constitutes approximately 40-45% of the total seafood export value, amounting to a significant USD 3.5-4 billion. Vietnamese shrimp products have found their way into around 100 markets worldwide, securing Vietnam’s position among the top four shrimp exporters globally.

Promising Growth Projections

In 2023, Vietnam’s brackish water shrimp farming area expanded to cover 737,000 hectares, yielding approximately 1.12 million tons—an impressive 5.5% increase compared to 2022. However, despite this surge in production, shrimp export turnover experienced a slight decline of nearly 20%.

The outlook for 2024, however, paints a more optimistic picture, with forecasts indicating a notable improvement and an expected increase in shrimp exports by 10-15%.

Addressing Challenges for Sustainable Development

Speaking at the inauguration of VietShrimp 2024, Mr. Nguyen Viet Thang, Chairman of the Vietnam Fisheries Association and Head of the VietShrimp 2024 Organizing Committee, acknowledged the challenges faced by the seafood industry, including shrimp, in the previous year. He noted that while difficulties persisted, there were signs of impending change.

To navigate these challenges and foster sustainable growth within the shrimp industry, the government has taken proactive measures. Directives have been issued to relevant ministries, branches, and local authorities to collaborate closely in addressing these issues, with a primary focus on supporting shrimp farmers in overcoming existing obstacles.