In 2024, Vietnam exported shrimp to 107 markets, up from 102 markets in 2023.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the Top 5 key markets for Vietnamese shrimp were:
China & Hong Kong (China), the United States, Japan, the European Union (EU), and South Korea, accounting for 76% of Vietnam’s total shrimp export turnover.
1. China & Hong Kong (China) – The Largest Market
Table of Contents
In 2024, Vietnam’s shrimp exports to China and Hong Kong reached USD 843 million, a 39% increase compared to 2023.
This strong growth helped the market surpass the United States to become Vietnam’s largest shrimp importer.
Product Structure:
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Other shrimp types: 51.7% (driven by strong lobster imports from Vietnam)
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Whiteleg shrimp: 36.1%
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Black tiger shrimp: 12.2%
2. United States – Stable Demand and Positive Growth
Vietnam’s shrimp exports to the U.S. totaled USD 756 million, up 11% year-on-year.
Among the four quarters of 2024, exports only decreased in Q2, while Q1, Q3, and Q4 recorded positive growth, especially in the second half of the year.
Product Structure:
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Whiteleg shrimp: 84.3%
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Black tiger shrimp: 9.3%
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Other shrimp: Remaining share
3. Japan – Recovery After Early-Year Decline
Vietnam exported USD 517 million worth of shrimp to Japan in 2024, marking a 1% increase over 2023.
After declines in the first two quarters, shipments recovered in Q3 and Q4, supported by favorable exchange rate movements.
From mid-Q3/2024, the Japanese Yen appreciated, boosting purchasing power.
At the same time, India, one of Vietnam’s major competitors, faced labor-related controversies, prompting Japanese buyers to shift more orders to Vietnam.
4. European Union (EU) – Double-Digit Growth
Vietnam’s shrimp exports to the EU reached USD 484 million, an increase of 15% compared to 2023.
The top three importing countries within the bloc were Germany, the Netherlands, and Belgium, all of which saw double-digit growth — with the Netherlands leading at 22%.
Product Structure:
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Whiteleg shrimp: 80.6%
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Black tiger shrimp: 12.2%
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Other shrimp: Remaining share
5. South Korea – Slight Decline Due to Quota Constraints
Shrimp exports to South Korea reached USD 334 million, down 3% year-on-year.
Vietnamese exporters continue to face challenges related to import quota restrictions in South Korea, which increase operational costs for securing quota allocations.
Summary
| Rank | Market | Export Value (USD Million) | Change YoY | Notes |
|---|---|---|---|---|
| 1 | China & Hong Kong | 843 | +39% | Strong lobster imports |
| 2 | United States | 756 | +11% | Growth in 3 of 4 quarters |
| 3 | Japan | 517 | +1% | Recovery from mid-year |
| 4 | EU | 484 | +15% | Strong demand in NL, DE, BE |
| 5 | South Korea | 334 | -3% | Import quota challenges |
Conclusion
Despite global challenges, Vietnam’s shrimp industry achieved solid export performance in 2024, particularly in major markets such as China, the U.S., and the EU.
The sector continues to strengthen market diversification, value-added processing, and sustainability compliance to maintain its position as one of the world’s leading shrimp exporters in 2025.