Japan is still the largest export market for Vietnamese shrimp

Japan is still the largest export market for Vietnamese shrimp

According to the report of the Vietnam Aquatic Products Export and Processing Association (VASEP), Vietnam’s shrimp exports totaled US $ 872.8 million in the first four months of 2020, a year-on-year increase of 2.9%. It is expected that Vietnam’s shrimp exports will continue to grow in May this year.

In the case of India, Ecuador, Thailand and other competitors of Vietnam’s main shrimp export activities affected by the embargo, Vietnamese shrimp exports are expected to usher in more export opportunities after the new coronary pneumonia epidemic slows. In addition, the upcoming entry into force of the Vietnam-EU Free Trade Agreement will promote the Vietnamese shrimp industry to become more competitive in the EU. It is expected that Vietnam’s shrimp exports will continue to grow in May this year.

VASEP revealed that in April 2020, Vietnam’s shrimp exports to most major markets increased. Japan remains the largest export market for Vietnamese shrimp, accounting for 20.7% of Vietnam’s total shrimp exports. In April, Vietnam’s shrimp exports to Japan increased by 19% to US $ 48.6 million. In the first four months of 2020, Vietnam’s shrimp exports to the market totaled US $ 180.5 million, an increase of 11% year-on-year.

The United States is the second largest export market for Vietnamese shrimp. In the first four months of 2020, Vietnam’s shrimp exports to the US reached US $ 158.7 million, an increase of 17% over the same period in 2019. Among them, Vietnam’s shrimp exports to the United States increased by 14% in April to US $ 43.2 million.

In the first four months of this year, Vietnam’s shrimp exports to the European Union reached nearly US $ 123 million, down 7.7% year-on-year.

In April 2020, Vietnam’s shrimp exports to China reached US $ 39.2 million, an increase of 16.6% year-on-year.

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