Shrimp exports forecast to reach 3.7 billion USD this year

Vietnam’s shrimp exports are forecast to reach 3.7 billion USD this year, posting an year-on-year increase of 9.8 per cent, fuelled by the Eupean Union – Việt Nam Free Trade Agreement (EVFTA) which facilitated export to the EU markets, according to Vietnam Association of Seafood Exporters and Producers.


Accounting for 13.8 per cent of the country’s shrimp export value, the EU was the fourth largest shrimp export market of Vietnam, coming after the US, Japan and China.

Despite declines at the start of this year, shrimp exports to the EU saw significant growth in the third quarter, thanks to the impact of the EVFTA which came into effect from the beginning of August, the association said.

In September alone, Vietnam exported shrimp worth $57.6 million to the EU, representing a rise of 35.4 per cent against September last year.

Besides the EU, exports to other major markets also saw significant increases, such as to the US by 39.6 per cent, China by 22.9 per cent and the UK 54.3 per cent.

According to the Ministry of Industry and Trade, Vietnam’s shrimp export would continue to increase in the last months of this year due to the low shrimp supply globally, especially from India.

It added that Vietnam’s shrimp export also had advantages from the EVFTA./.