Despite supply chain disruptions caused by the Covid-19 pandemic, Vietnam exported US$4 billion worth of shrimp in 2021, an increase of 4% on the previous year, official data compiled by Vietnam Customs has confirmed.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the main “bright spot” for the Vietnamese shrimp sector last year was to maintain “fairly good growth” in the US market. The trade totalled more than $1 billion, an increase of 20% compared to 2020.
Vietnam’s shrimp exporters also took a larger share of the US market last year, rising from 11% to 13%. VASEP reports that US retail sales maintained the increase seen during the pandemic, while the demand from the restaurant and foodservice sectors gradually recovered.
VASEP forecasts that the growth rate of Vietnam’s shrimp exports to the States will continue through the first-quarter of 2022.
The EU is another important market for Vietnamese shrimp that saw trade growth last year. Exports to the bloc reached more than $613 million, up 19% compared with 2020, with supplies to the three main markets of the Netherlands, Germany and Belgium increasing by 11%, 25% and 19%, respectively.
VASEP comments that one year after the EVFTA Agreement between Vietnam and the EU took effect, Vietnam’s shrimp exports to the market recorded good growth.
In contrast, Vietnam’s shrimp exports to China and Japan decreased in 2021. The Chinese trade slipped 22% to $412 million. This is largely attributed to China’s so-called “zero Covid” policy and the strict inspections conducted at Chinese ports designed to prevent the spread of Covid.
Meanwhile, exports to Japan amounted to $578 million last year, down 6% compared to 2020.
VASEP said that Japan’s slowing economic growth – caused by Covid – reduced the demand for seafood, including shrimp.
With Vietnam’s shrimp exports to Japan remaining subject to 100% inspection regulations, exports to the country could not increase in 2021, the association added.
Vietnam’s shrimp production area has increased by around 1.5% annually over the past five years and now accounts for more than 740,000 hectares. The country’s total shrimp harvest stands at more than 900,000 tonnes, with some 80% of products coming from the southwestern provinces.
