In a promising turn of events for Vietnam’s shrimp industry, recent data released by the Vietnam Association of Seafood Exporters and Producers (VASEP) indicates a surge in shrimp exports to key markets, particularly China and the United States.

Robust Growth in China’s Market

Vietnam’s shrimp exports to China during January and February experienced a 145% increase compared to the same period last year, reaching an total of USD 81 million. This surge can be attributed to the recovering demand witnessed in the Chinese market, which has been favorably inclined towards Vietnamese shrimp products.

Equally encouraging for Vietnam is the growth observed in Vietnam’s shrimp exports to the United States. The figures show a 26% rise, totaling USD 72 million in the first two months of the year. This increase underscores the growing appeal of Vietnamese shrimp among American consumers.

Quality Recognition in Key Markets

VASEP’s report highlights a significant aspect contributing to Vietnam’s success in these markets: the perceived quality of Vietnamese shrimp. Consumers in both China and the U.S. reportedly rate the quality of Vietnamese shrimp higher than that of its competitors from Ecuador and India.

Despite challenges faced in the previous year, Vietnam’s shrimp production recorded a 5.5% increase in 2023, totaling 1.1 million tons. However, exports experienced a decline of 20% to USD 3.45 billion due to subdued demand in key markets. Nevertheless, with the current growth trajectory, exports are expected to rebound strongly, reaching USD 4 billion in 2024, comprising 50% of the total fisheries exports.