AsemconnectVietnam - After reaching a peak of 1 billion USD in October, seafood exports in November slowed down slightly but still maintained impressive growth, with a value of 924 million USD, up by 17% over the same period of 2023.

Of which, fishmeal by-products exported to China emerged.
According to Ms. Le Hang, Communications Director of the Vietnam Association of Seafood Exporters and Producers (VASEP), with the above results, by the end of November of 2024, Vietnam's total seafood export turnover reached nearly 9.2 billion USD, up by 11.5% over the previous year.
In particular, shrimp exports still maintained impressive growth momentum, reaching an increase of 22% in November, and are forecast to reach 4 billion USD by the end of the year.
Other products such as pangasius and tuna also recorded positive growth. Specifically, the exports of pangasius reached 1.84 billion USD and is forecast to reach 2 billion USD by the end of 2024.
Although growth slowed down, tuna products still increased by 8% compared to November of 2023, and could reach 1 billion USD as the record in 2022.
In addition, some products such as crab, shellfish and octopus also recorded high growth, of which shellfish had an impressive growth rate of up to 180%.
In addition to the main products, the Vietnamese seafood export industry also strongly developed by-products such as fishmeal, collagen, etc... Fishmeal exports alone reached 220.4 million USD in the past 10 months.
It is forecasted that for the whole year, fishmeal exports will reach 264.6 million USD. Of which, the Chinese market accounts for nearly 90% of fishmeal export turnover.
China - Hong Kong has taken the lead in Vietnam's seafood import markets, with a growth rate of 61% in November of 2024, bringing the total cumulative turnover in 11 months to more than 1.7 billion USD, up by 19% over the same period last year.
The US market also recorded positive growth of 21% in November, reaching 1.67 billion USD after 11 months, and is expected to continue to be positive in the last month of the year before the US government can apply new tariffs.
Although the Japanese, EU and Korean markets did not have a big breakthrough in November, they still contributed significantly to the total seafood export turnover.
According to Ms. Hang, with the current growth momentum, this year, the Vietnamese seafood industry can complete the export target of 10 billion USD, an increase of 11.5% compared to 2023.
In particular, shrimp and pangasius will continue to be the two main pillars contributing to this success, with shrimp forecast to reach 4 billion USD and pangasius possibly reaching 2 billion USD.
"In general, 2024 is a promising year for the Vietnamese seafood industry, when exports continue to achieve impressive achievements, not only in value but also in the diversity and stability of export markets and products," Ms. Le Hang commented.
CK
Source: VITIC/ haiquanonline.com.vn