Vietnam shrimp exports reached more than 3 billion USD in the first 8 months of 2022
MEKSEA.COM – In August 2022, Vietnam’s shrimp exports reached more than 398 million USD, up 41% over the same period in 2021. Accumulated in the first 8 months of this year, shrimp exports reached more than 3 billion USD, up 24%.
In the first 8 months of the year, in Vietnam’s top 10 main shrimp import markets, shrimp exports to the US and UK slightly decreased, while exports to the others all grew positively.
In the first eight months of this year, Vietnam’s vannamei shrimp exports accounted for 75%, black tiger shrimp accounted for 14%, and the rest were marine shrimp. Marine shrimp exports increased the most by 78%, while exports of vannamei and black tiger shrimp increased by 21% and 11% respectively. Also in the first 8 months of the year, the export value of processed shrimp products recorded a higher growth rate than fresh/frozen shrimp products.
The US is still the largest import market for Vietnam’s shrimp, accounting for 20%. In August 2022, shrimp exports to the US reached $68 million. Accumulated in the first 8 months of this year, Vietnam’s shrimp exports to the US reached more than 619 million USD.
Inflation in the US, fluctuating exchange rates, and high selling costs have caused many difficulties for Vietnamese shrimp to export to the US.
Besides, shrimp exports to Japan in the first 8 months of this year recorded a positive growth of 120% to over $67 million. As of August this year, shrimp exports to this market have reached $463 million, up 21% over the same period last year. Due to low freight rates, shrimp exports to Japan seem to be better than the US and EU markets.
Read more: Vietnam exported shrimp to 105 markets in the first 6 months
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By Hayati (Meksea Team)
(hayati@mekseaconnection.com)
(Reference: VASEP)
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