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Shrimp industry boosts Vietnam's seafood exports

HANOI, July 27 (Xinhua) -- The shrimp industry contributes 40-45 percent of Vietnam's total seafood export value, equivalent to 3.5-4.3 billion U.S. dollars, local newspaper Vietnam News reported Thursday.

Vietnamese shrimp has been exported to 100 countries, with the largest markets being China, Europe, Japan, the United States and South Korea, said the report, citing the Ministry of Agriculture and Rural Development.

The shrimp industry has played an important role in Vietnam's seafood exports, with stable export growth at about 7 percent over the past 20 years, said Deputy Minister of Agriculture and Rural Development Phung Duc Tien.

With more than 700,000 hectares of shrimp farms, Vietnam has been providing 13-14 percent of the total shrimp exports in the world.

The fisheries sector employs more than 5 million laborers, including more than 1 million in the shrimp sector, according to Nguyen Viet Thang, chairman of the Vietnam Fisheries Society.

According to deputy minister Tien, Vietnam's shrimp sector, however, is facing numerous challenges, mostly from the COVID-19 pandemic's impacts and market fluctuations, especially since 2022.