Vietnam's shrimp exports are expected to grow by 10-15% in 2024, aiming for a turnover of $4-4.3 billion, according to the Vietnam Association of Seafood Exporters and Producers. The United States and China are projected to remain the two largest markets, contributing to approximately 40-45% of the total shrimp export value. The association notes an increasing demand for protein from aquatic products, highlighting potential growth opportunities for seafood, particularly shrimp. China, due to its close proximity, is anticipated to increase its imports of Vietnamese shrimp. However, Vietnam's shrimp exports experienced a decline in 2023, falling to $3.38 billion, which marks a 21.7% decrease from the previous year, attributed to reduced global demand and competition from Ecuador and India.
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