Vietnam shrimp exports in 2021 "surpassed the Covid storm" with nearly 4 billion USD

(seafood.vasep.com.vn) According to data of Vietnam Customs, Vietnam's shrimp exports in 2021 recorded $3.9 billion, up 4% compared to 2020.
Vietnam shrimp exports in 2021 surpassed the Covid storm with nearly 4 billion USD
Nha Trang Seafood's black tiger shrimp products

In 2021, Vietnam's shrimp exports will face many difficulties due to the impact of the 4th Covid-19 epidemic. The Covid-19 epidemic disrupts the global supply chain, increasing costs, especially shipping costs to markets.

The bright spot of Vietnamese shrimp in 2021 is to maintain a fairly good growth in the US market throughout the year. In 2021, Vietnam's shrimp exports to the US reached over 1 billion USD, an increase of 20% compared to 2020.

In 2021, Vietnam's shrimp market share in the US market has increased to 13% from 11% in 2020. Retail sales in the US maintained an increase during the pandemic. Demand for restaurants and food services in the US gradually recovered thanks to the economic stimulus packages of the US Government and the strategy of opening up and living with Covid. The growth rate of Vietnam's shrimp exports to the US will continue until the first quarter of 2022.

Along with the US, the EU is also a Vietnamese shrimp import market that recorded positive activity in 2021. In 2021, Vietnam's shrimp exports to the EU reached more than 613 million USD, up 19% compared to 2020. Shrimp exports to three main markets (Netherlands, Germany, Belgium) increased by 11%, 25% and 19%, respectively.

One year after the EVFTA Agreement between Vietnam and the EU took effect, Vietnam's shrimp exports to the EU market recorded good growth.

In contrast, Vietnam's shrimp exports to China and Japan in 2021 decreased.

Vietnam's shrimp exports to China in 2021 will reach more than $412 million, down 22%. In 2021, exports to China dropped sharply because the country applied a "zero Covid" policy and strict inspection at the port to prevent the Covid epidemic.

Exports to Japan in 2021 will reach 578 million USD, down 6% compared to 2020. The country's economic growth slows down because Covid reduces the demand for seafood, including shrimp. Vietnam's shrimp exports to Japan are still subject to 100% inspection regulations, so shrimp exports to this country in 2021 cannot increase.

For more information on Vietnam's shrimp production and export over the 5-year chain (2016-2021), the impact of Covid on the industry, and trends in world markets, please refer to the Report on shrimp sector in Vietnam, 2016-2021 and forecast to 2025.


Related news
  • SPECIALIST ON SHRIMP MARKET

Ms Kim Thu

Email: kimthu@vasep.com.vn

Tel: 84.24.3771.5055 (ext 203)

  • Detail-Right-Top