China and Hong Kong (China), the US, Japan, the EU, and South Korea account for 76% of Vietnam's total shrimp export turnover to markets.
According to the Association of Seafood Processors and Exporters, in 2024, the Top 5 main markets for Vietnamese shrimp include: China and Hong Kong (China), the US, Japan, the EU, and South Korea, accounting for 76% of Vietnam's total shrimp export turnover to markets.
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| In 2024, Vietnam will export shrimp to 107 markets, compared to 102 markets in 2023. Illustrative photo |
Regarding the Chinese and Hong Kong (China) markets, in 2024, shrimp exports to this market will reach 843 million USD, an increase of 39% compared to 2023. Thanks to strong growth, China and Hong Kong (China) have surpassed the US to become Vietnam's largest shrimp import markets.
In 2024, in the structure of Vietnamese shrimp products exported to China and Hong Kong (China), other types of shrimp account for the highest proportion of 51.7% due to China's sharp increase in lobster imports from Vietnam in 2024. Next, white-leg shrimp accounts for 36.1% and black tiger shrimp accounts for 12.2% of the proportion.
The US market is second. Accordingly, in 2024, Vietnam's shrimp exports to this market will reach 756 million USD, an increase of 11% compared to 2023. In the 4 quarters of 2024, shrimp exports to the US will only decrease in the second quarter, with positive growth in the remaining 3 quarters. Shrimp exports to this market tend 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 will still account for the largest proportion (84.3%), followed by black tiger shrimp (9.3%), and the rest will be other types of shrimp.
The third place belongs to the Japanese market. In 2024, Vietnam's shrimp exports to this market will reach 517 million USD, up 1% compared to 2023. After a decline in the first two quarters of 2024, shrimp exports to Japan have recovered in the third and fourth quarters, although the growth rate is not high.
Since the middle of the third quarter of 2024, the Japanese Yen has recovered strongly, leading to improved purchasing power. In addition, Vietnam's competitor in the Japanese market, India, has been embroiled in a scandal over the use of underage labor, so Vietnamese shrimp has been increasingly sought after by Japanese importers.
The EU ranks 4th among the Top 5 leading export markets for Vietnamese shrimp. Accordingly, in 2024, shrimp exports to this market will reach 484 million USD, an increase of 15% compared to 2023. Germany, the Netherlands, and Belgium are the 3 largest import markets in the bloc. In 2024, exports to these 3 markets will all grow by double digits, of which the Netherlands will record the strongest growth of 22% in 2024.
In the structure of shrimp products exported to the EU in 2024, whiteleg shrimp accounts for the largest proportion at 80.6%, black tiger shrimp accounts for 12.2%, the rest is other types of shrimp.
The fifth place belongs to the Korean market. In 2024, shrimp exports to this market will reach 334 million USD, down 3% compared to 2023. Shrimp exports to Korea are still facing the problem of shrimp import quotas into Korea, and businesses are incurring significant costs to obtain quotas.
| In 2024, Vietnam will export shrimp to 107 markets, compared to 102 markets in 2023. |
Source: https://congthuong.vn/5-thi-truong-xuat-khau-tom-lon-nhat-cua-viet-nam-372339.html
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