Vietnam’s shrimp exports are forecast to increase by 40% in the late March 2022
MEKSEA.COM – The Vietnam Association of Seafood Exporters and Producers (VASEP) forecasts that Vietnam’s shrimp exports in late March 2022 will continue to grow by about 40%. As a result, Vietnam’s shrimp exports for the whole year will increase by about 3% compared to 2021.
In February 2022, Vietnam’s shrimp exports reached 244.8 million USD, up 55% compared to the same period last year. Thus, in the first 2 months of this year, shrimp exports reached nearly 558 million USD, up 48% compared to the same period last year. Shrimp exports in the first two months of 2022 had a remarkable growth compared to the same period last year. Specialty, Vietnam’s shrimp exports grew well in all major markets such as the US, EU, Japan, Korea, China, UK, etc.
In the first 2 months of the year, Vietnamese shrimp exports to the US reached 117.5 million USD, up 61% over the same period in 2021. Currently, the US market has recovered after the covid-19 pandemic, so the seafood demand more and more increase, including shrimp. Vietnam is still one of the four largest shrimp suppliers to this market.
In the Chinese market, after a sharp decline in 2021, Vietnam’s shrimp exports to this market showed positive signs in the first two months of this year with a turnover of 39.7 million USD, up 14% over the same period last year.
VASEP forecasts that Vietnam’s shrimp exports will continue to grow by about 40% in March 2022 thanks to high demand, shrimp exports for the whole year are expected to reach about 4 billion USD, up 3% compared to 2021.
In addition, in 2022, the US, EU and Japan will still be the main export markets for Vietnam’s shrimp. Besides, paying attention to potential markets such as Canada, Australia, UK, and so on.
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By Hayati (Meksea Team)
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