Vietnam’s shrimp exports to Australia double in five years

HCMC – Vietnam’s shrimp exports to Australia have doubled since the nation became a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) five years ago. Vietnam now secures a shrimp market share of a staggering 70% in Australia, up from the pre-CPTPP market share of 32%. Vietnamese seafood has also gained higher market share in other CPTPP member economies. In Canada, Vietnam’s seafood market share has risen from 7-8% to a solid 10%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Vietnam’s seafood export sector heavily relies on foreign logistics systems, rendering it vulnerable in times of instability, as witnessed in the recent Red Sea tension.