The picture of the Vietnamese shrimp export market in 2022: The US can continue to be a bright spot

In 2021, the US became the largest export market for Vietnamese shrimp, accounting for 28% of the total turnover. The country set a new record in shrimp import volume and turnover, with 7 billion USD and an output of over 750,000 tons. Vietnamese shrimp ranked 5th in the US market, with a proportion less than 10%, due to competition from cheaper shrimp from India and Ecuador. To compete, Vietnam plans to sell more processed shrimp products and items not subject to anti-dumping tax. The EU and UK are also potential high-end markets for Vietnamese shrimp, but require careful control of the product chain. Japan's profit margin is good but requires sophisticated product design, and there are erratic fluctuations in the market due to COVID-19. China's import policy is constantly fluctuating, but Vietnam's supply of large-sized black tiger shrimp has not been significantly affected by COVID-19. South Korea, Canada, and Australia are potential markets for Vietnamese shrimp, and Vietnamese shrimp occupy the top positions in Korea and Australia, showing the prestige of Vietnamese shrimp is not small.