In October alone, VASEP said, shrimp exports brought back US$498 million, up 26% from the same month last year.

The increasing demand in major markets, and businesses trying to meet orders in the rest of the year resulted in impressive growth rate.

The expansion was mainly driven by white-leg shrimp, with China and Hong Kong remaining the top markets, importing US$1.1 billion in 10 months, up 64% year on year.

Markets within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) hit over US$1 billion, up 33%, thanks to strong performance in Japan, Australia, and Canada.

The United States was the third-largest market at US$702 million, a modest 9% increase.

White-leg shrimp continued to dominate exports, accounting for US$2.5 billion, or 65% of total shrimp exports, over the ten-month period. Tiger shrimp exports totaled US$385 million, supported by steady demand from Japan and China. Exports of processed and high-value-added products reached US$991 million.

VASEP noted that demand in Asia improved with the region’s economic recovery, while Vietnam’s geographical advantage enhanced shrimp competitiveness.

Meanwhile, major markets such as the US, Japan, and the EU maintained stable growth, particularly for processed and high-value-added products, making them promising destinations for Vietnamese shrimp for the remainder of the year.

Source: VOV