Workers at a Minh Phú JSC factory process frozen shrimp for export. — VNA/VNS Photo

HCM CITY — Despite facing a range of challenges, Việt Nam’s aquatic exports have maintained a stable growth trajectory and are expected to hit a new turnover record this year.

According to the Việt Nam Association of Seafood Exporters and Producers (VASEP), seafood products were sold overseas for more than $10.5 billion in the first 11 months, up 14.6 per cent year-on-year. Shrimp exports generated $4.31 billion, a year-on-year rise of 21.2 per cent, remaining the key growth driver; tra fish exports surpassed $2 billion, up 9 per cent; tuna exports reached $855.7 million, while the figures for molluscs, marine fish and value-added products all maintained double-digit growth.

In terms of markets, Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) member countries accounted for the largest share of Việt Nam’s total seafood export revenue, at 27.2 per cent, marking a strong growth of 24.3 per cent year-on-year. Exports to China rose 30.6 per cent and to the EU went up 11.9 per cent, while shipments to the US were valued at $1.78 billion, up 8.1 per cent.

Lê Hằng, VASEP’s Deputy General Secretary, noted that in a global market still marked by volatility, the above results reflect the proactive and flexible approach of exporters, particularly in accelerating shipments ahead of anticipated new US regulations on seafood imports and before the final ruling in the country’s anti-dumping case on shrimp.

Seafood exports are expected to drop slightly in December compared to November due to seasonal factors and increased caution among exporters trading with the US. Many businesses have temporarily limited new seafood orders to the market pending official guidance on the US’s Marine Mammal Protection Act (MMPA). However, shrimp exports may hold steady or fall only marginally thanks to stable demand from Japan, the EU and CPTPP markets.

According to Hằng, based on 11-month performance and year-end prospects, Việt Nam’s seafood exports are likely to set a new record this year, reaching around $11.2-$11.3 billion– the highest level to date. Shrimp exports alone are expected to exceed $4.6 billion, establishing a new record for the sector, tra fish exports are forecast to surpass $2.1 billion on the back of demand recovery in Asia, while tuna exports are projected to top $900 million. — VNA/VNS