The bright picture of Vietnam’s shrimp exports to the EU and the US in 2021

Bởi Meksea Team - January 17, 2022

MEKSEA.COM – According to Vietnam Customs, Vietnam’s shrimp exports in 2021 reached about 3.88 billion USD, up 4% compared to 2020. In which, exports to the US and EU markets showed positive prospects.


In 2021, Vietnam’s shrimp exports faced many difficulties due to the impact of the 4th Covid-19 pandemic. Besides, the Covid-19 epidemic disrupted the global supply chain, increasing ocean freight rates and other fees. In the third quarter of 2021, shrimp processing and export decreased continuously for more than 2 months because many factories in Vietnam Southern (accounting for 80% of Vietnam’s shrimp processing output) had to produce “3 things at the factory” or temporarily closed to Covid-19 prevention. Since the second half of October, processing activities gradually recovered, exports up again.


Despite the covid-19, Vietnam’s shrimp exports reached about 3.88 billion USD in 2021. (photo: internet)


Despite the covid-19, Vietnam’s shrimp exports in 2021 still achieved positive growth. The bright spot of Vietnamese shrimp in 2021 is to maintain fairly good growth in the US market throughout the year. By the end of 2021, Vietnam’s shrimp exports to the US reached over 1 billion USD, up 22% over the same period in 2020.

In 2021, Vietnam’s shrimp market share in the US market will increase to 13% from 11% in 2020. In the US market, Vietnamese shrimp also increased its competitiveness because the US doubles the anti-dumping tax on shrimp imported from India. Retail sales in the US remained up during the pandemic. Demand for restaurants and food services in the US gradually recovered thanks to the economic stimulus packages of the US Government and the strategy of the opening door and adapting Covid. The growth rate of Vietnam’s shrimp exports to the US will continue until the first quarter of 2022.

Besides the US, the EU is also a shrimp import market of Vietnam, recording positive activity in 2021. Accumulated by the end of 2021, Vietnam’s shrimp exports to the EU reached 576.6 million USD, an increase of 17% over the same period in 2020. Exports to 3 main markets (Netherlands, Germany, Belgium) increased by 8%, 22% and 17% respectively.


The bright picture of Vietnam's shrimp exports to the EU and the US in 2021Vietnam’s shrimp exports to the EU markets showed positive signs in 2021. (photo: internet)


Particularly in November 2021, shrimp exports to the EU reached 66.5 million USD, up 86.4%. In which, shrimp exports of most member countries increased dramatically: to the Netherlands increased by 47%, to Germany by 87% and to Belgium by 118%. In addition, shrimp exports to other markets in the EU also increased spectacularly such as to France up 161%, to Denmark up 99%, to Sweden up 196%, to Italy up 123% and so on.

One year after the EVFTA agreement between Vietnam and the EU took effect, Vietnam’s shrimp exports to the EU market recorded good growth.

To recover the post-Covid-19 economy, the EU has activated many support packages and disbursed to recover production to rebuild commodity supply chains. In the last months of 2021, the EU is very scarce for goods because many of its supply partners for the EU are struggling with the Covid-19 epidemic, plus the pressure of rising sea freight rates while consumer demand more and more increase in the last months of the year.


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By Hayati (Meksea Team)


(Reference: VASEP)


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