Shrimp exports reached over USD 3 billion in the first eight months
Vietnam achieved more than USD 398 billion worth from exporting shrimp in August 2022, up 41% from the same period last year, leaving the accumulated value up to over USD 3 billion, up 24%.
In the first eight months of the year, among Vietnam’s exported shrimp products, white leg shrimps accounted for 75%, black tiger shrimp accounted for 14%, and marine shrimp did the rest. Exports of marine shrimp jumped by 78% while exports of white leg shrimp and black tiger shrimp increased by 21% and 11% respectively. During this time, the export value of processed shrimp products rose higher than fresh/frozen ones.
Among the top importers of Vietnamese shrimps, the US and the UK saw a decline while other markets experienced a positive growth. The US has been the biggest buyer of Vietnamese shrimp, accounting for 20% of the density. The shrimp exports to the US started to slow down in May and constantly fell from June to August. Vietnam earned over USD 68 million from exporting shrimp to the US in August 2022, down 27%, leaving the accumulated value of more than USD 619 million in this market, down 9% from the same period last year.
Exports to Japan jumped by 120% in August, reaching over USD 67 million worth. As of August this year, exports of shrimp to this market reached USD 463 million, up 21% as compared to the same period last year. Exports to Japan were more positive than to the US and EU; and low shipping charge was to blame. Japan is in favor of Vietnam’s highly processed products which are not advantages of providers from Ecuador and India.