2007-2009: growth rate not high but stable
In 2008 and 2009, Vietnam’s shrimp export value increased steadily year after year with the growth rate of 8 percent for 2008 and 3 percent for 2009. Vietnam exported $1.7 billion worth of shrimp in 2009, an increase of 11 percent over 2007.
2010: first year of great success
2010 is an important landmark in Vietnam shrimp industry’s history as Vietnam for the first time made high profits from shrimp exports.
In that year, the oil spill in the Gulf of Mexico and the high demand pushed the shrimp price up in the world market. This led to Vietnam’s sharp increase in shrimp export volume and turnover.
In 2010, Vietnam for the first time exported more than $2 billion, and had a high growth rate of 25 percent in comparison with 2009. This helped cement Vietnam’s position in the world market.
2012: the reduction
Just two years later, Vietnam tasted the first failure with a minus growth rate of six percent. The failure was anticipated as a series of barriers were set up by import countries to block Vietnam’s shrimp exports.
2013-2014: growth rate regained
After the decline of 2012, Vietnam witnessed great victory in the next two years. It exported $3.08 billion worth of shrimp products in 2013 and $3.95 billion in 2014.
Vietnam’s shrimp then had benefits from the US administration’s recognition that Vietnam shrimp industry did not get subsidy from the government. With the recognition, Vietnam’s shrimp exports did not bear double tax when entering the US market.
In 2014, Vietnam’s shrimp exports hit $3.95 billion. The high export volume had special significance as Vietnam’s rivals all met difficulties at that time.
Thailand’s exports were affected by the information reported by the UK media that Thai farmers used fish paste provided by ships using illegal workers.
2015: difficulties again
Vietnam exported $2.95 billion worth of shrimp in that year, a fall of 25.3 percent compared with 2014.
A lot of negative factors affected Vietnam’s shrimp industry, including lower demand, export price decreases, higher supply from rivals and the depreciation of currencies of other shrimp export countries.
2016: good fortune again
Vietnam’s shrimp sales bounced back to $3.15 billion in 2016.
Source: VNA
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn