What Are the Recent Trends and Key Markets for Ecuador’s Shrimp Exports?

According to Trade Map, Ecuador’s shrimp exports amounted to 1.196 million metric tons (mmt), valued at USD 7.092 billion in 2023. This represents a 6.19% year-on-year (YoY) rise in volume but an 8.75% YoY drop in value. Ecuador’s shrimp shipments were predominantly destined for China, the United States (US), and Spain.

The Ecuadorian Aquaculture Association (CNA) reported that Ecuador’s shrimp exports increased to 246 million pounds (lbs) in Apr-24, indicating a rebound after a three-month consecutive drop. This represents a 21.48% increase compared to Mar-24 and a 19% rise over the same period in 2023. This rebound is expected to be short-lived since producers usually increase harvest in April to avoid shrimp mortality, while May is a transitional period from hot to cold season.

Figure 1: Ecuador’s Shrimp Exports (HS Code 030617) from 2019 to 2023

Source: Trade Map, Tridge

Considering the US, which is Ecuador's second largest frozen shrimp export destination and one of the major importers of frozen shrimp globally, it is clear that Ecuador's main competitors for this product are: India, Indonesia, Vietnam, Mexico, and Argentina. Ecuador is the only one in this group of countries that has gained a relevant share in US imports.

Figure 2: US Shrimp Import Share in 2023

Source: Trade Map, Tridge

Ecuador is the largest shrimp exporter in the world, accounting for approximately 38.22% of total shipments in 2022. Its competitive price advantage has enabled Ecuador to dominate and gain market shares over the years.

Figure 3: US Shrimp Import Price Per Ton Value Trend from 2014 to 2023

Source: Trade Map, Tridge