Hanoi: Shrimp exports to China and Hong Kong reached 1.1 billion USD in the first 10 months of this year, marking a significant rise of 64%, the highest growth among all markets. The market recorded an export value of 140 million USD in October alone, the highest ever recorded, according to the latest report by the Vietnam Association of Seafood Exporters and Producers (VASEP). In total, shrimp exports reached 498 million USD last month, up 26% compared to the same period last year. The total export value reached 3.9 billion USD for the first 10 months, a 22% growth compared to the same period last year.

According to Vietnam News Agency, the export data indicates robust demand for Vietnamese shrimp in China and Hong Kong, contributing significantly to the overall growth in export value. The record-breaking figures in October highlight the increasing competitiveness of Vietnamese shrimp in these markets. Industry analysts suggest that various factors, including competitive pricing and improved quality, have played a role in this surge.

The Vietnam Association of Seafood Exporters and Producers (VASEP) report also outlines the broader context of global seafood trade, where Vietnam is steadily enhancing its position. The growth in shrimp exports aligns with the country’s strategic efforts to boost its seafood industry, making it a crucial player in the international market. The report suggests that with continued focus on quality and sustainability, Vietnam is poised to maintain its upward trajectory in seafood exports.