China and Hong Kong remain the largest markets for Vietnamese pangasius exports. In October 2024, exports to this region reached $61 million, up 9% compared to the same period last year. However, total exports to China and Hong Kong for the first ten months of 2024 declined by 2%, totaling $479 million.
In the first month of the final quarter, pangasius exports to the United States surged by 65% year-on-year, reaching over $35 million. The total export value to the U.S. for the first ten months of 2024 exceeded $291 million, marking a 28% increase. With Donald Trump securing a second term and set to officially take office early next year, new tax policies on imported goods, including pangasius, are anticipated. Guided by slogans such as "America First" and "Make America Great Again," and focusing on economic growth, Trump's administration is expected to influence trade with Vietnam, including the pangasius sector. Nevertheless, the outlook remains positive, with order volumes expected to increase as Vietnam and the U.S. continue their comprehensive strategic partnership, along with potential tax policy adjustments.
Earlier, the preliminary results of the 20th Administrative Review (POR 20) revealed favorable outcomes for Vietnamese pangasius exporters. Two mandatory respondents received anti-dumping duty rates of $0.00/kg, while six additional companies were granted separate duty rates of $0.00/kg. These results are more favorable than the previous POR 19 review, where rates ranged from $0.00/kg to $0.18/kg.
The CPTPP bloc remains Vietnam's third-largest market for pangasius exports. Over the first ten months of 2024, exports to CPTPP countries, bolstered by the agreement, reached over $224 million, an 11% year-on-year increase.
Exports to the EU remained nearly unchanged from the same period last year. In the first ten months of 2024, exports to this region increased slightly by 0.04%, totaling nearly $144 million. Several EU markets recorded double-digit growth in imports of Vietnamese pangasius, including Lithuania, Ireland, Italy, Belgium, Spain, Poland, and Portugal.
Vietnam's pangasius exports are expected to surpass the $2 billion mark in 2024. Year-end orders are projected to rise in anticipation of holiday and festive celebrations. Additionally, concerns over potential tax adjustments and increases have prompted some importers to accelerate their orders before President Trump's inauguration.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam's tuna exports in October reached nearly $93 million, marking a 22% increase compared to the same period in 2023. In the first ten months of 2024, the total export value exceeded $821 million, up 18% compared to the same period last year.
(seafood.vasep.com.vn) According to Vietnam Customs data, pangasius exports to the EU reached USD 7 million in the first half of October 2024, marking a 27% year-on-year increase. As of October 15, 2024, cumulative exports to the EU totaled over USD 134 million, reflecting a slight 0.01% decrease compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius export revenue in October 2024 reached nearly $202 million, a 17% increase compared to October 2023. The cumulative export value for the first ten months of the year totaled $1.7 billion, marking a 9% year-on-year increase.
(seafood.vasep.com.vn) Vietnam's exports of crabs and other crustaceans continued to see high growth in September 2024, with a 54% increase compared to the same period in 2023. In the first nine months of the year, exports of crabs and other crustaceans reached over USD 228 million, a 67% increase year-over-year.
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached $394 million in October 2024, up 24%. In the first ten months of this year, shrimp exports brought in $3.2 billion, up 13% compared to the same period last year. Exports to all major markets recorded double-digit growth in October.
International Development and Investment Corporation (IDI), a key member of the Sao Mai Group, has consistently ranked among the largest seafood producers and exporters in Vietnam.
(seafood.vasep.com.vn) In recent years, the US has consistently been Vietnam’s largest seafood export market. Over the past five years, seafood export turnover to the US has ranged from 1.5 billion USD to 2.1 billion USD anually. Despite facing strict protective policies such as anti-dumping and countervailing duties, U.S. market demand remains high, and the quality of Vietnamese seafood continues to improve, helping to maintain and expand its position in this market.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
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