(vasep.com.vn) In first 7 months of 2015, Vietnamese crab exporters earned a total revenue of over US$ 60.7 million, up nearly 6% year on year. In the first half of 2015, Vietnam exported crab to 34 markets, adding 6 markets comparing to the same period in 2014.
Top 8 markets accounted for 96% of total exports. Top 8 markets included the US, the EU, Japan, China and Hong Kong, ASEAN, Australia, Taiwan and Canada.
Except for the EU and Canada, exports to all markets rose.
The US
Accounting for nearly 47% of total export value, the US has maintained its position as Vietnam's largest crab importing market. In the first 7 months of this year, Vietnam earned US$ 30 million from crab exports to this market, up 1.7% over the same period last year.
According to the ITC, from Januray to May, the US crab imports declined in both volume and value. Imports from ASEAN accounted for 37.7% of total crab imported into the US, reporting a 31.4% increase from the same period in 2014.
Vietnam is the 6th biggest crab supplier to the US and the third biggest among ASEAN nations to export crab to the market, just after Indonesia and the Philippines.
Crab from Vietnam occupied 4.3% of total US crab imports and 11.5% of US crab imports from ASEAN.
Japan
Japan has surpassed to be the 2nd biggest crab market for Vietnam. According to the ITC, Japan sourced crab from 23 countries, down 23% in volume and down 29% in value. In the first 7 months of the year, crab exports of Vietnam crabs to this market still get higher, reaching US$ 10.7 million, up 28.7%.
Vietnam is among top 7 crab suppliers to Japan.
EU
The EU is now the third biggest market. In the first 7 months of this year, bringing nearly US$ 10.5 million to Vietnamese exporters, down 12% yoy. According to the ITC, the EU crab imports declined 16.7% yoy. Vietnam continues to be the 2nd largest source, just after the UK.
The depreciation of the EUR against the USD discouraged imports in Europe. Greece became the first developed country to default on its international obligations, therefore, demand from the market is likely to decrease.