Vietnamese shrimp exports reach more than 4 billion USD

Published 2022년 12월 26일

Tridge summary

Vietnam's shrimp exports in November 2022 saw an 18% decrease, the largest since the start of 2022, with the highest 11-month export revenue reaching over $4 billion. This is a 14% increase from the same period in 2021. However, exports to major markets like the US and EU saw significant drops, while exports to China surged by 88% in November. The US decrease is due to high inventory, and the EU markets experienced a decline due to record inflation, energy price crisis, and fluctuating exchange rates. Despite these challenges, Vietnam's shrimp exports have surpassed the 2021 turnover, with an expected total of about $4.3 billion for 2022, marking a 10% increase from the previous year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's shrimp exports in November 2022 decreased by 18%, the sharpest decline since the beginning of 2022. However, accumulated for 11 months of this year. , shrimp export revenue still reached more than 4 billion USD, the highest level in 11 months over the years. The 11-month accumulated revenue recorded an increase of 14% over the same period in 2021. In November, shrimp exports to main markets decreased simultaneously. In which, exports to the US and EU dropped the most by approximately 50%, exports to Japan decreased by 16%, exports to South Korea only increased by 2%, only the Chinese market still increased sharply to import shrimp from Vietnam with growth rate of 88% in November. In November 2022, Vietnam's shrimp exports to the US reached US$41 million, down 55% over the same period. Accumulating 11 months of 2022, shrimp exports to the US reached more than 773 million USD, down 21% ...

Source: Haiquanonline