5 months: Seafood exports earned 3.6 billion USD

According to the Vietnam Association of Seafood Exporters and Producers , in May 2024, the country's seafood exports are estimated to reach 870 million USD, an increase of over 7% over the same period last year. In particular, exports of tuna and crab continued to surge strongly, while exports of pangasius, squid, and octopus increased slightly. Shrimp products alone are slightly lower than the same period last year. Cumulatively in the first 5 months of the year, seafood exports reached 3.6 billion USD, up 6.5% over the same period in 2023.

5 months: Seafood exports earned 3.6 billion USD

In May 2024, tuna exports increased by 36% to over 95 million USD, of which canned tuna products increased by 18%, bagged tuna increased dramatically by more than 3.5 times, frozen loin/fillet tuna. frozen tuna increased by 25% and frozen whole tuna increased nearly 7 times compared to May 2023. Cumulatively until the end of May 2024, tuna exports will reach nearly 397 million USD, up 25% over the same period in 2023.

Crab exports in May increased nearly 92% to over 26 million USD. Cumulatively in the first 5 months of the year, crab exports reached 101 million USD, an increase of 84%, mainly thanks to crab products increasing more than 2 times over the same period. The two largest markets, China and Japan, both increased imports of Vietnamese crab.

In particular, China is Vietnam's largest consumer market for live crab, with an import increase of 11 times over the same period in 2023. For the Japanese market, Vietnam exports mainly finished products. Snow crab: snow crab meat, shelled snow crab, snow crab claws and a small portion of ground crab...

Pangasius exports increased by 10% and exports of octopus, squid and other fish species all increased slightly by 3% in May. Cumulatively in the first 5 months of the year, pangasius exports brought in nearly 755 million USD, a slight increase of 3%. compared with the same period last year. Meanwhile, marine fish exports decreased by 3% to 742 million USD, octopus squid reached 236 million USD, down nearly 2% over the same period last year.

In May 2024, shrimp exports alone decreased by 1.5% to reach 326 million USD, but the cumulative first 5 months of the year still maintained a positive growth rate of 7% reaching 1.3 billion USD.

Although there has not been a strong breakthrough, in general major markets have shown signs of gradual recovery in both demand and import prices. Accordingly, seafood exports to the US, Japan, EU, and Korea all grew positively in May with an increase of 5 - 26%, while exports to China decreased by 8% over the same period.

As of the end of May, the US was still leading with a growth rate of 13% reaching 635 million USD in seafood import value from Vietnam. Exports to Japan, China, Korea and the EU will only grow modestly by 3-4% over the same period in 2023.