Politics · Vietnam Bureau
Vietnam's shrimp exports surge to $3.7 billion in nine months
Shipments of the country's prized crustacean reached $3.7 billion in the first nine months of the year, marking an 11 percent increase year-on-year. The growth rate has moderated from the 14 percent expansion recorded during the first half of 2024.
LSN Vietnam ·
Vietnam's shrimp exports, a cornerstone of the nation's seafood industry, have demonstrated resilience despite signs of a cooling expansion. The $3.7 billion in outbound shipments underscores the sector's continued importance to the broader agricultural economy, even as growth trajectories shift.
The 11 percent year-on-year increase reflects steady demand for Vietnamese shrimp in key international markets. However, the deceleration from the first half's 14 percent growth rate suggests market dynamics may be tightening. Industry analysts point to a combination of factors including global supply chain adjustments and shifting buyer preferences as influencing the moderated expansion.
Vietnam's agriculture, forestry, and fishery sector overall expanded exports by 7.8 percent during the nine-month period, demonstrating that shrimp remains a high-performing category within the broader agro-export basket. The sector continues to serve as a vital pillar supporting Vietnam's economic growth and foreign exchange earnings.
Industry stakeholders have highlighted the need for strategic initiatives to unlock additional export potential for agro-forestry-fishery products. Measures including improved supply chain efficiency, market diversification, and enhanced quality standards are seen as critical to sustaining and accelerating export momentum in coming periods.