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Vietnam’s seafood export sector maintained its robust momentum in November 2024, achieving exports worth $924 million, an impressive 17% increase compared to November 2023. This strong monthly performance pushed the total export turnover for the year to nearly $9.2 billion, a 11.5% year-on-year growth, bringing the country closer to its ambitious $10 billion export target.

Remarkable Growth Highlights a Positive Year for Vietnam’s Seafood Industry

In the first 11 months of 2024, Vietnam's pangasius exports achieved impressive results, with total revenue reaching 1.8 billion USD, representing a 10% increase compared to the same period in 2023. This demonstrates a steady recovery and growth for one of Vietnam's key seafood export products.

Vietnam’s shrimp industry is experiencing a surge in demand from Southern Europe while maintaining stable performance across other regions of the European Union (EU). By November 15, 2024, Vietnam’s shrimp exports to the EU had surpassed $422 million, marking a remarkable 16% growth compared to the same period last year.

In recent years, Vietnam's pangasius products have gained immense popularity in global markets, and Malaysia has emerged as a key destination for these products. As a member of the Association of Southeast Asian Nations (ASEAN) and one of the world's largest free trade areas, Malaysia has witnessed steady growth in pangasius imports, presenting a vast opportunity for Vietnam to expand its exports.

Vietnam’s pangasius exports to Canada reached $32 million in the first three quarters of 2024, marking a solid 10% increase. Despite some fluctuations, including a sharp decline in April and August, the sector rebounded, driven by strong demand for frozen fillets and value-added products.

In October 2024, Vietnam’s tuna exports soared to nearly $93 million, marking the highest monthly performance in 25 months and a 22% increase compared to the same period last year. With total exports on track to reach $1 billion this year, the industry is set for an 18% growth over 2023, driven by robust demand from key markets like the US, Middle East, and Japan.

Vietnam’s pangasius industry is making waves in the EU market, with the Netherlands emerging as the largest importer. In the first half of October 2024, Vietnam’s pangasius exports to the EU reached $7 million, marking an impressive 27% increase compared to the same period last year.

The recent Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA) has created a breakthrough opportunity for Vietnam’s shrimp exporters, opening doors to a promising market with immense growth potential.

Vietnam's shrimp industry, a cornerstone of the country's seafood export sector, is forging ahead despite facing a multitude of challenges in 2024. The industry has been hit hard by extreme weather events, including heatwaves in the Central region, droughts in the Central Highlands, saline intrusion in the South, and storms and floods in the North. These adverse climatic conditions have severely impacted shrimp farming, reducing productivity in several regions.

VIETNAM’S TUNA INDUSTRY SEIZES “GOLDEN OPPORTUNITY” TO BOOST EXPORTS TO THE UAE

Vietnam’s tuna exports to the UAE have achieved remarkable growth, rebounding strongly from the challenges of the pandemic. Over the past five years, export values skyrocketed from $1.6 million in 2019 to nearly $4 million in 2023, marking an impressive 139% increase.