Vietnam is expected to have earned around US$3.9 billion from its shrimp exports last year, an increase of 4% on 2020, thanks largely to strong growth rates in the industry’s sales to the US and EU markets, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Data compiled by Vietnam Customs finds that for the year up to 15 December 2021, Vietnam’s shrimp exports achieved overseas sales of $3.7 billion, an increase 3.7% over the same period of the previous year.
Within this period, the country’s exports to the US have been valued in excess of $1 billion, up 22% year-on-year, while its shrimp trade with the EU reached $576.6 million, representing an increase of 17%.
VASEP explained that Vietnamese shrimp’s market share in the US market increased to 13% last year from 11% in 2020, and that exports to the three main EU markets of the Netherlands, Germany and Belgium increased by 8%, 22% and 17% respectively in 2021.
In terms of production, Vietnam’s shrimp farming area amounts to more than 740,000 hectares, and this has increased by around 1.5% annually over the past five years.
The industry’s total harvest stands at more than 900,000 tonnes, with some 80% of products coming from the country’s southwestern provinces.
