Export upswing for Vietnamese shrimp, trade grows with US and China
The value of Vietnam’s shrimp exports in the opening two months of this year grew 8.5 percent year-on-year to USD 378.4 million (EUR 334.7 million), with significant increases in trade with both the U.S. and Chinese markets.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the United States maintained its position as Vietnam’s number one shrimp market by importing USD 98.3 million (EUR 86.9 million) worth of shrimp over the two months, a rise of 36.2 percent year-on-year.
For the same period, exports to China increased 36.5 percent to USD 64.8 million (EUR 57.3 million), making it Vietnam’s strongest growth market and second place overall in value terms.
China’s government has been encouraging the importation of raw shrimp to offset declining domestic production, said VASEP. A lot of these imports are processed and re-exported.
In terms of species, whiteleg shrimp (Penaeus vannamei) accounted for 56.1 percent of Vietnam’s exports, while black tiger shrimp (Penaeus monodon) accounted for 35.8 percent and other marine shrimp accounted for 8.1 percent.