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What Are the Current Trends of Thai Frozen Shrimp Exports?

Jul 29, 2022
Edited By
Rene Salinas
Jul 29, 2022
Edited By
Rene Salinas
By the end of first half 2022, frozen shrimp exports were following 2021's trend, but a considerably higher level. China and the US are vying for the top destination for Thai frozen shrimp exports.

As of June 2022, Thai frozen shrimp exports are following a very similar path to the one they took in 2021, but at higher levels, averaging 16% YoY growth so far 2022. 



Source: Tridge and Thai Customs


The top four destinations for Thai frozen shrimp are US, China, Japan, and Taiwan, which together comprised, as of H1 2022, 81% of total Thai frozen shrimp exports. The US and China are vying for the top spot, while Japan and Taiwan remain without much change in the third and fourth sports, respectively.




At the onset of 2022, exports to the United States were growing at a rate of 60% YoY, but as the year advanced the rate weakened. Meanwhile, exports to Taiwan, which started the year down compared to the same period in 2021, have accelerated their growth pace. The growth of exports to Japan has remained considerably stable near 30% YoY.

 


Source: Tridge and Thai Customs


Exports to China started 2022 on a very strong note, but the growth pace has been diminishing since. 



Source: Tridge and Thai Customs


Meanwhile, exports to countries outside the top 4 destinations remain considerably below 2021 levels. Although

the decline has become less sharp as 2022 advances. 



Source: Tridge and Thai Customs

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