Sharp rise in Vietnam shrimp exports to Germany

News 16:45 12/09/2014 502
(vasep.com.vn) Among EU block, Germany remained to be the largest importer of Vietnam shrimp, reporting the growth of 63 – 116 percent through May 2014. Shrimp imports into the market from Vietnam are projected to see a positive growth in the last months of the year.

Amid European economic downturn, shrimp imports into Germany witnessed deep dive because it is a price-sensitive market.

In 2012, European economic crisis made Vietnam shrimp exports to the region reduce 24.5 percent in which exports to Germany (making up 26 percent of total shrimp exports to EU) downed 27.8 percent.

Vietnam shrimp sales to Germany have recovered since the second half of 2013 and posted a robust growth in the early 2014. Through May 2014, Vietnam earned back US$50.9 million from selling shrimp to the market, up 92.7 percent year on year.

Vietnam is the second largest supplier of frozen shrimp to Germany behind Thailand. According to the International Trade Center (ITC), Germany’s imports of the item from Thailand in 2013 downed 11 percent while imports from Vietnam to the market up 3.6 percent.

Facing many difficulties, particularly a 50 percent reduction in its shrimp production caused by EMS, Thailand reduced sharply its shrimp exports to many markets in 2013. Thailand’s shrimp exports to the U.S. (its leading shrimp consuming market) marked the decrease of 38 percent.

The proportion of whiteleg shrimp dominated that of black tiger shrimp among Vietnam’s total shrimp exports to the market. In 2013, the proportion of Vietnam’s whiteleg shrimp exported to the market hit 53.4 percent while black tiger shrimp made up nearly 40 percent.

Through May 2014, the proportion of Vietnam’s whiteleg shrimp exports to the market increased to 61.8 percent while black tiger shrimp downed its proportion to 30 percent.

With the population of 80 million of people, Germany is the most powerful economy in EU with high consumption demand of many commodities. In 2013, Germany was the 7th largest of seafood importer behind the U.S., Japan, France, Spain, China and Italy with the import volume of 983,554 MT, worth by US$5.34 billion.

With expected recovery in its economic growth in 2014, Germany will continue to raise its shrimp imports in the last months of the year.

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