The US emerges as a bright spot for shrimp exports in the second half of 2023
MEKSEA.COM – The U.S. market shows signs of transition, and it is anticipated that the demand for shrimp imports in the U.S. market will continue to recover in the last quarter of this year.
Currently, shrimp production in the U.S. only meets 10% of consumer demand, with the remaining 90% being imported. Therefore, the U.S. market is considered one of the markets with significant potential for shrimp industry businesses to explore. However, to facilitate shrimp exports to this large market, compliance with all quality standards is essential.
Frozen peeled shrimp and frozen processed shrimp are the two most imported shrimp products in the U.S. The U.S. is considered a market with a positive trend in shrimp exports from Vietnam, as shrimp exports to this market continue to experience positive growth. Alongside the increasing trend in shrimp imports, the economic outlook for the U.S. is quite optimistic. According to the IMF forecast, the U.S. economy is expected to grow by 2.1% in 2023 and 1.5% in 2024, with increases of 0.3 and 0.5 percentage points, respectively, compared to the July projections.
Being a net energy exporter, the U.S. stands to gain more profits as energy prices rise due to the impact of the Russia-Ukraine conflict. Additionally, consumer spending in the U.S. is more stable and less affected by interest rate hikes. The export of Vietnamese shrimp to the U.S. is expected to continue positively in the last months of this year.
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Kindly please visit Meksea website to explore our shrimp products: https://mekseaconnection.com/product-category/shrimp/
Meksea always pays particular attention to product quality to secure each consumer’s family member’s health and set their mind at rest by bringing in true quality seafood products.
Are you looking for shrimp products for your sales plan for 2024? Contact Meksea right now for the best offers.
By Hayati (Meksea Team)
(hayati@mekseaconnection.com)
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