Việt Nam earns $1.1 billion from shrimp exports to China

Việt Nam earns $1.1 billion from shrimp exports to China

The growth momentum in October was largely driven by white-leg shrimp, along with a significant surge in exports to China, where demand for live, fresh, and frozen shrimp remained high.

In total, shrimp exports reached $498 million last month. — VNA/VNS Photo

Shrimp exports to China and Hong Kong reached US$1.1 billion in the first 10 months of this year, marking a significant rise of 64 per cent, the highest growth among all markets.

The market recorded an export value of $140 million 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 last month, up 26 per cent compared to the same period last year.

This was one of the highest monthly export figures so far this year, reflecting strong demand from major markets and efforts by businesses to boost deliveries toward the end of the year.

The total export value reached $3.9 billion for the first 10 months, a 22 per cent growth compared to the same period last year.

The growth momentum in October was largely driven by white-leg shrimp, along with a significant surge in exports to China, where demand for live, fresh, and frozen shrimp remained high.

The market under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) achieved over $1 billion, a 33 per cent growth, with stable demand from Japan, Canada, and Australia.

The US market reached $702 million, a 9 per cent increase, showing strong purchasing power despite fierce competition from Ecuador and India.

White-leg shrimp accounted for nearly 65 per cent of total export value, hitting $2.5 billion. This category experienced the fastest growth, driven by competitive pricing and demand from various markets.

Black tiger shrimp exports reached $385 million, maintaining steady demand in traditional markets like Japan and for large-size black tiger shrimp segment in China. Meanwhile, exports of other frozen processed shrimp products totaled $991 million. 

Bizhub