Vietnam: Shrimp exports to the US and China grew strongly in July

Published 2023년 8월 25일

Tridge summary

Vietnam's shrimp exports in July 2023 decreased by 16% compared to the same period last year, marking the lowest drop of the year. However, there was positive growth in shrimp export turnover to the US and China, with exports to the US increasing by 14% and exports to China and Hong Kong increasing by 49%. Despite the challenges, Vietnam's shrimp exports are expected to improve in the second half of the year, particularly during the festive season and with increased demand from large consumer markets.

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

Original content

In July 2023, Vietnam's shrimp exports reached more than 320 million USD, down 16% compared to the same period last year. The 16% drop in July was the lowest since the start of the year. Accumulated in the first 7 months of this year, shrimp exports reached $1.9 billion, down 30% over the same period. * President Ho Quoc Luc (FMC): "Vietnamese shrimp is in the stage of speeding up delivery" In terms of export products, the export value of processed vannamei and black tiger shrimp products decreased more sharply than that of fresh/frozen products. Only exports of other canned shrimp and other dried shrimp recorded an increase; The export value of the remaining shrimp products all decreased at double digits. In July this year, exports to major markets such as Japan, EU, Korea, UK, Australia continued to decrease from 15%-46%. Meanwhile, exports to small markets such as Singapore, Taiwan, and Switzerland still grew by 18%-63%. However, VASEP said that the highlight in July this year ...

Source: Vietstock