China surpasses US as biggest importer of Vietnamese shrimp

China imported $834 million worth of Vietnamese shrimp last year, surpassing the U.S. to become the largest buyer of this item from Vietnam, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Shrimp exports were estimated to reach $3.9 billion in 2024, up 14% year-on-year. China's imports represented a 39% increase from 2023. The U.S.'s imports were $756 million, VASEP added.

The association attributes this surge in demand to a decline in China's shrimp supplies, caused by unfavorable weather conditions. Additionally, Ecuador reduced shrimp exports to China. At the same time, China introduced numerous policies to promote domestic consumption, creating favorable conditions for Vietnamese shrimp exports.

In terms of product structure, other types of shrimp (including lobsters) account for nearly 52%. Whiteleg shrimp and tiger prawns saw decreases of 36% and 12%, respectively.

Last year, Vietnam exported over $10 billion worth of seafood in total. Of that, shrimp and pangasius were the two main pillars, generating $4 billion and $2 billion, respectively. China is the largest market for Vietnamese lobsters, accounting for about 99% of total exports of this product.

Earlier this year, China reduced shrimp imports from other countries but increased purchases from Vietnam. In the first half of January 2025, shrimp sales to China surged by 191% compared to the same period last year, reaching over $51 million.

VASEP forecasts that the seafood industry will maintain its growth this year, driven by increased demand from regional markets.

In China, however, VASEP notes that the demand for whiteleg shrimp has cooled due to decreased purchasing power among the middle class. In contrast, high-end seafood products like lobsters, salmon, and king crab continue to see stable consumption.

As a result, the association recommends that businesses boost lobster exports, increase promotional efforts, and launch programs to stimulate demand for whiteleg shrimp and tiger prawns in China.

According to VASEP, U.S. businesses might also turn to Vietnam to find seafood suppliers to compensate for the supply shortages from China. Additionally, U.S. businesses, along with companies in other markets such as Japan and Canada, are likely to seek seafood processing partners in Vietnam for exports to the U.S. This presents a significant opportunity for Vietnamese seafood businesses.

However, the association advises businesses to maintain high quality and production standards. Complying with regulations on product origin, ensuring transparency across the supply chain, and cooperating with authorities will help businesses sustain their competitive edge and protect their reputation in international markets.