Ecuador’s Shrimp Export Growth Hindered by Challenges in 2024

In 2023, Ecuador experienced significant growth in shrimp exports, surpassing 300 thousand metric tons (mt) with over 10% year-on-year (YoY) growth. However, in Feb-24, there was approximately a 10% YoY decline in shrimp export value due to factors such as market competition, security concerns, crime rates, and a 7.55% tax increase. Environmental factors like El Niño also disrupted shrimp capture and fishing.