According to Vietnam Association of Seafood Exporters and Producers, 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 17% over the same period in 2023. Accumulated to end of November, Vietnam's total seafood export turnover reached nearly 9.2 billion USD, up 11.5% over previous year.
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. Pangasius reached 1.84 billion USD in the first 11 months of the year and is forecast to reach 2 billion USD by the end of 2024. Tuna, despite slowing growth, still increased by 8% compared to November 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 of up to 180%.
In addition to main products, Vietnamese seafood export industry also strongly developed by-products such as fishmeal. Fishmeal exports reached 220.4 million USD in the first 10 months of the year and are forecast to reach 264.6 million USD for the whole year with Chinese market accounting for nearly 90% of fishmeal export turnover.
China and Hong Kong (China) have taken the lead in Vietnam's seafood import markets, with a growth rate of 61% in November, bringing total cumulative turnover to more than 1.7 billion USD, up 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 forecast to continue to be positive in the last month of the year before the US government can apply new tariffs. Although Japanese, EU and Korean markets did not have a major breakthrough in November, they still contributed significantly to total seafood export turnover.
2024 is witnessing strong growth in Vietnam's seafood exports, as exports continue to achieve impressive achievements, not only in value but also in diversity and stability of export markets and products.
By the end of this year, with current growth momentum, Vietnamese seafood industry can achieve export target of 10 billion USD, an increase of 11.5% compared to 2023 and marking an important milestone in export development journey of this industry. In particular, shrimp and pangasius will continue to be two main pillars contributing to success of seafood industry, with shrimp forecast to reach 4 billion USD and pangasius possibly reaching 2 billion USD.

Source: Vitic/ congthuong.vn