Crab exports to China rise by 502%

Vietnam’s crab exports have grown continuously since the beginning of 2024. In May 2024 alone, export value increased by 62% year on year, worth 22 million USD. In the first five months of the year, export value reached more than 97 million USD, up 76%.

Crab exports to the Chinese market rise by 502%. (Photo: congthuong.vn)

China and Hong Kong (China) are still Vietnam’s largest import market for crabs and other crustaceans, accounting for 42% of the total export turnover. Export value to these markets rocketed at a three-digit rate compared to the same period last year, but the growth rate is slowing down.

In May 2024 alone, exports of crabs and other crustaceans to China increased by 418% over the same period, worth nearly 11 million USD. In the first five months of the year, exports to this market reached more than 41 million USD, up 502%.

Meanwhile, exports to the Japanese market have tended to decrease in the past 2 months. Export value of crabs and other crustaceans to Japan in May 2024 decreased by 9% over the same period, reaching more than 6 million USD. However, thanks to the growth in the first quarter of 2024, exports to this market in the first five months of the year still increased by 7%, worth nearly 29 million USD.

Exports to the US and Canadian markets are also growing positively, with increases of 32% and 54% respectively. On the contrary, exports to EU countries are not very positive. Crab export value to the EU decreased by 58% over the same period. The fact that the European Commission continues to keep a "yellow card" warning against Vietnam’s fishing industry is affecting seafood exports to this market./.