AsemconnectVietnam - According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam exported shrimp to 107 markets, an increase of 5 markets compared to 2023.

Of which, the top 5 main markets were China and Hong Kong, the US, Japan, the EU and South Korea, accounted for 76% of Vietnam's total shrimp exports to markets.
In 2024, shrimp exports took advantage of the recovery in demand and import prices in the US and Chinese markets, so shrimp exports to these two superpowers made a strong breakthrough.
In addition, shrimp exporting enterprises still maintain their position in markets such as Japan, South Korea, and the EU thanks to the prestige and quality of products as well as the advantages of value-added processed shrimp products.
Free trade agreements also bring competitive advantages for shrimp products to accelerate to many markets such as the UK, Canada, Australia, and Singapore.
Thanks to strong growth, China and Hong Kong surpassed the US to become Vietnam's largest shrimp import market.
After declining in the second quarter of 2024, Vietnam's shrimp exports to China and Hong Kong increased sharply again in the third and fourth quarters. In the fourth quarter of 2024, shrimp exports to this market increased by 69% to 258 million USD. In 2024, shrimp exports to China and Hong Kong reached 843 million USD, an increase of 39% compared to 2023.
In 2024, in the structure of Vietnamese shrimp products exported to China and Hong Kong, other types of shrimp accounted for the highest proportion of 51.7% due to China's strong increase in lobster imports from Vietnam in 2024. White-leg shrimp accounted for 36.1% and black tiger shrimp accounted for 12.2% of the proportion.
In 2024, Vietnam's shrimp exports to the US reached 756 million USD, an increase of 11% compared to 2023. In the 4 quarters of 2024, shrimp exports to the US only decreased in the second quarter, with positive growth in the remaining 3 quarters. Shrimp exports to this market tended to accelerate in the second half of the year.
In 2024, in the structure of Vietnamese shrimp products exported to the US, white-leg shrimp still accounted for the largest proportion (84.3%), followed by black tiger shrimp (9.3%), and the rest are other types of shrimp.
The top 3 largest shrimp exporting companies to the US were Soc Trang Seafood Joint Stock Company, Sao Ta Company and Clean Seafood Company, respectively.
Creating export momentum in 2025
Similarly, with the Japanese market, in 2024, Vietnam's shrimp exports to Japan reached 517 million USD, up by 1% compared to 2023. After declining in the first 2 quarters of 2024, shrimp exports to Japan have recovered in the 3rd and 4th quarters, although the growth rate was not high.
From the middle of the 3rd quarter of 2024, the Japanese Yen has recovered strongly, leading to improved purchasing power. In addition, Vietnam's competitor in the Japanese market, India, was involved in a scandal about using underage labor, so Vietnamese shrimp was sought after by more Japanese importers.
In 2024, shrimp exports to the EU reached 484 million USD, up by 15% compared to 2023. Germany, the Netherlands, and Belgium were the 3 largest import markets in the bloc. In 2024, the exports to these three markets all grew by double digits, with the Netherlands recording the strongest growth of 22% in 2024.
Vietnam was the largest shrimp supplier to the South Korean market, accounting for an overwhelming market share of 46%. China ranks second with a market share of 10%. South Korea increased shrimp imports from Peru, China, and Canada in 2024.
In 2024, shrimp exports to this market reached 334 million USD, down by 3% compared to 2023. Shrimp exports to South Korea are still facing the problem of shrimp import quotas into South Korea, and businesses are incurring significant costs to obtain quotas.
To increase competitiveness and achieve growth targets in 2025, the shrimp farming sector needs to be motivated, such as farmers being able to mortgage and borrow from banks normally, and granting water surface licenses to people so that people can borrow from funds or banks.
VASEP recommends that the Government, the Ministry of Foreign Affairs, and the Ministry of Industry and Trade should focus on economic diplomacy, bilateral negotiations, and targeted trade promotion in important markets to unlock advantages for Vietnamese shrimp exports.
The Japanese market imported the most shrimp from Vietnam in 2024, but may be overtaken by Indonesian shrimp due to high tariffs in the US and will seek to switch to Japan. Promote negotiations with South Korea to abolish quotas on Vietnamese shrimp exported to South Korea within the framework of the VKFTA Agreement to adjust the tax rate to 0% for Vietnamese shrimp.
Despite facing many challenges in the past year, the Vietnamese shrimp industry has still steadfastly overcome difficulties thanks to its efforts and determination, along with reasonable strategies. In the coming time, the shrimp industry needs to change its mindset: instead of focusing only on output and high technology, it needs to prioritize sustainability and efficiency, focus on quality, environmental protection, health and product value.
CK
Source: VITIC/ haiquanonline.com.vn