Shrimp exports enjoy robust growth during 2020

Vietnam's shrimp exports are expected to record a dramatic increase of 12.4% to 3.78 billion USD in comparison with other export items this year despite suffering from the adverse impacts of the novel coronavirus (COVID-19) pandemic.

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Vietnamese shrimp exports recorded an annual surge of 11.3% to 3.4 billion USD during the 11-month period.

The US remains the world’s leading consumer of Vietnamese shrimp, with turnover rising by 34% to over 806 million USD in comparison with last year’s corresponding period.

Furthermore, the EU makes up the nation’s fourth largest shrimp importer, behind the US, Japan, and China, accounting for 13.7% of the country’s total shrimp export value. Indeed, local shrimp exports to the EU have recorded strong growth since the beginning of the third quarter of the year due to the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA).

After witnessing two-digit growth in September and October, the nation’s shrimp exports to China in November endured a decrease of 21% to over 42.8 million USD.

VNA