In 2023, the Vietnamese aquatic products industry exports soared to USD 9.2 billion. This not only surpassed expectations but also accounted for 92% of the set plan. As the industry sets its sights on 2024, a target of approximately 9.22 million tonnes in total production has been established, mirroring the success of the previous year. Forecasts predict an export turnover of USD 9.5 billion.

Anticipated to spearhead this growth are Vietnamese exports of aquatic products to key markets, including the United States, the European Union, and South Korea. Projections suggest a robust recovery in the early months of 2024, indicating a positive trajectory for the industry.

However, challenges loom on the horizon. Lê Hang, the communications director of VASEP, emphasizes that Vietnamese shrimp will face stiff competition from Ecuador and India in terms of pricing and supply. These two nations are aggressively vying for larger market shares in the United States, China, Japan, and the European Union.