Hanoi: Vietnam’s seafood industry is riding a wave of success, with November exports reeling in an impressive 924 million USD, a 17% annual increase, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Total earnings in the 11-month period came close to 9.2 billion USD, an 11.5% year-on-year surge, putting the country on track to meet its 10 billion USD export target for 2024.

According to Vietnam News Agency, the significant growth in seafood exports highlights the resilience and strength of Vietnam’s seafood sector, which has been buoyed by increased market demand and strategic export initiatives. The industry has continued to expand its reach in international markets, contributing significantly to Vietnam’s economic growth.

The report from VASEP attributes the growth to several factors, including improved production methods, increased aquaculture output, and favorable trade policies that have opened up new markets for Vietnamese seafood. The success reflects the industry’s co
mmitment to maintaining high standards and meeting international quality requirements.

As Vietnam approaches its 10 billion USD export target for 2024, stakeholders in the seafood industry remain optimistic about future prospects. Efforts are underway to further enhance production capacities and explore new opportunities in global markets, ensuring sustained growth and stability in the coming years.