Vietnam's seafood exports experienced significant growth in the first quarter of this year, generating nearly $2 billion in revenue, an increase of over 8 percent compared to the same period last year. This uptick was led by a notable surge in shrimp exports, which soared by 24 percent to exceed $690 million. Additionally, tra fish and tuna exports also saw increases, with tra fish bringing in nearly $424 million, a slight rise of 0.4 percent year-on-year, and tuna exports jumping by 22.2 percent to surpass $220 million.
The major markets driving this growth were the United States, Japan, and China, which emerged as the top three importers of Vietnamese seafood during the first three months of the year. Particularly in China, exports of lobsters and crabs from Vietnam witnessed unprecedented growth, with rates increasing by 11 and seven times year-on-year, respectively. This indicates a robust demand in the Chinese market for these specific seafood products from Vietnam.
Looking ahead, the Vietnamese seafood industry is optimistic, with forecasts suggesting that total exports could reach $9.5 billion in 2024. The strong performance in the first quarter reflects the global demand for Vietnamese seafood and sets a positive tone for the industry's export goals in the coming year. The growth in high-value products like shrimp, lobsters, and crabs, particularly in key markets, underscores Vietnam's rising prominence in the global seafood export sector.