Vietnam earns more than 5,600 billion VND from crab and swimming crab exports

In the first 9 months of 2024, Vietnam's crab exports reached nearly 227 million USD (more than 5,600 billion VND), an increase of 66% over the same period last year.

The figures were released by the Vietnam Association of Seafood Exporters and Producers (VASEP). This is the most impressive growth rate among Vietnam's eight main seafood export groups. Crabs, along with shellfish, are the products leading the growth rate.

According to VASEP, this strong increase comes from high demand from major markets, especially China, where Vietnamese live crab products are popular. The amount of crab exported to China in the first nine months of the year increased by double digits. Not only China, Japan is also an important market thanks to the competitive prices and quality of Vietnamese crab products. These products are not contaminated with antibiotics or pathogenic bacteria, enhancing reputation and increasing demand in the international market.

It is forecasted that for the whole year of 2024, crab exports could bring in more than 300 million USD, marking a big step forward for Vietnam's seafood industry.

Not only crabs, Vietnam's seafood exports in the first nine months of the year also recorded many positive signals. Total export turnover reached 7.16 billion USD, up 8.5% over the same period last year. Notably, in September, seafood exports reached 866 million USD, up 6.4% over September 2023. After four years of being affected by the Covid-19 pandemic, war and inflation, the market has gradually stabilized, helping seafood exports return to a strong growth trajectory, peaking in the third quarter.

In the third quarter, seafood exports reached 2.76 billion USD, up nearly 13% over the same period last year. Key products all had significant growth, including pangasius up 13.5%, shrimp up 17.5%, and shellfish up 95%.

In the first nine months, shrimp was the leading item with an export turnover of nearly 2.8 billion USD, up 10.5% over the same period in 2023. Pangasius reached 1.46 billion USD, up 8%, while squid and octopus recorded a decrease.

With positive signals from major markets such as China, the US, Japan, and South Korea, VASEP forecasts that Vietnam's seafood exports in 2024 could reach about 9.5 billion USD, up 7%. Of which, shrimp exports are estimated to reach nearly 4 billion USD, pangasius about 2 billion USD, tuna approximately 1 billion USD, and squid and octopus about 640 million USD, with other seafood products contributing the rest.

Source