Import-Export Department (Ministry of Industry and Trade) cited statistics from General Department of Customs, saying that in June 2024, Vietnam's seafood exports reached 840.7 million USD, an increase of 8.4% over the same period in 2023. In the first 6 months of 2024, Vietnam's exports reached over 4.4 billion USD, an increase of 6.2% over the same period in 2023.
In terms of markets, in June 2024, Vietnam's seafood exports to the two largest markets, the United States and China, both grew positively with double-digit growth.
Specifically, seafood exports to the United States increased by 10.1%, reaching 160.1 million USD; seafood exports to China increased by 18%, reaching 144.5 million USD. Exports to the EU are also showing a recovery trend as exports to major markets in the bloc such as the Netherlands, Belgium, Germany, etc. grew positively.
In the first 6 months of 2024, Vietnam's seafood exports to most major markets increased compared to the same period in 2023, except for exports to Japan which decreased by 1.4%, Thailand which decreased by 16.1%, Hong Kong (China) which decreased by 8.8%. In particular, seafood exports to the US market in the first 6 months of 2024 reached 733 million USD, an increase of 9% over the same period in 2023; exports to China reached 766 million USD, an increase of 7% over the same period in 2023; Notably, Vietnam's seafood exports to Canada and Russia increased sharply, up 37.3% and 105.5% in value respectively compared to the same period in 2023.
Import-Export Department (Ministry of Industry and Trade) forecasts that in the last 6 months of 2024, Vietnam's seafood exports will likely continue to recover as the world economy improves. Accordingly, the US economy has shown many optimistic signs such as rapidly decreasing inflation and a stable labor market, which will be factors supporting consumer spending.
This will be a good opportunity for Vietnamese seafood exporters to the US market in the coming time. Meanwhile, EU economy is also gradually stabilizing. Consumer prices are stable, while inflation continues to decrease, the EU's demand for seafood consumption and imports will likely increase again.
However, seafood exports also face many difficulties when main product, shrimp, has to compete fiercely with similar products from Ecuador and India because shrimp prices of Ecuador and India are more competitive than those of Vietnam.
In addition, unpredictable developments of epidemic may affect raw material sources in the last 6 months of the year. Meanwhile, transportation activities through Panama Canal and Suez Canal are still facing difficulties. Although transportation costs have decreased compared to the peak in February and March 2024, they are still high, which may lead to an increase in seafood prices in consuming market.

Source: Vitic/ congthuong.vn