Vietnam’s shrimp industry has experienced a strong recovery in 2024, with export turnover hitting USD 2.8 billion in the first nine months of the year, a 10.5% increase year-on-year. The Vietnam Association of Seafood Exporters and Producers (VASEP) revealed this on October 14, signaling continued momentum for one of the country’s most critical sectors.

The United States Remains the Largest Market

The United States remains the largest buyer of Vietnamese shrimp, importing USD 516 million worth of shrimp between January and September. This marked an 8% rise compared to the same period last year, reflecting steady demand in the world’s biggest consumer market. Vietnam’s reliance on the US market has been a key driver of its shrimp export performance, supported by consistent consumption patterns.

Vietnam’s shrimp exports to the European Union also saw substantial growth, rising 15% to reach USD 337 million. In addition, Hong Kong (China) showed a significant surge, with imports reaching USD 529 million, a 26% increase year-on-year. However, Japan, another traditional market, saw a marginal decline of 1%, with imports totaling USD 342 million.

Whiteleg Shrimp Dominates

Whiteleg shrimp continues to dominate Vietnam’s shrimp exports, contributing nearly USD 2 billion to the total turnover in the first nine months of the year. The product’s versatility and rising demand have solidified its position as the main export commodity. In contrast, black tiger shrimp, while still important, generated USD 334 million in exports during the same period.

Between July and September, the price of whiteleg shrimp—sizes ranging from 50 to 100 shrimp per kilogram—saw a steady increase. This upward trend, alongside slightly higher average prices in key markets such as the US, the EU, China, and Japan, suggests favorable conditions for exporters.