A lesson for Vietnam from Ecuador's shrimp exports

Published 2023년 2월 24일

Tridge summary

Ecuador has become the first country to export over 1 million tons of shrimp in a single year, with a record export volume of 1,061 million tons and a value of 6.7 billion USD in 2022. This success is due to a production slowdown in Asian countries, modernization of shrimp farming, and strong demand from China. Ecuador's shrimp exports to China increased 1,500% from 2013 to 2022, making China the main market for Ecuadorian shrimp. The country's shrimp industry is expected to continue growing in 2023, with an expected increase of about 10%. The article discusses Ecuador's experience as a lesson for other shrimp exporting countries, including Vietnam, and points out the challenges the Vietnamese shrimp industry needs to address to be more competitive.

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

Original content

Lesson for Vietnam from Ecuador shrimp exports. Ecuador exported more than 1 million tons of shrimp in 2022. This impressive achievement helps Ecuador become the first country to reach the milestone of exporting 1 million tons of shrimp. After reaching high export results in December, Ecuador’s total shrimp export volume in 2022 reached 1,061 million tons. Total export value also reached a record of 6.7 billion USD. The main factors behind Ecuador’s success are attributed to the production slowdown in several Asian countries, modernisation of the shrimp farming programme in the last few years which has improved the competitiveness of Ecuadorian shrimp. Besides, the strong demand from China also plays an important role in boosting Ecuadorian shrimp exports. Ecuador’s shrimp exports in 2022 increased 26% in volume and 31% in value compared to 2021, mainly thanks to the recovery of exports to China. China is increasingly importing Ecuadorian shrimp. In 2013, Ecuadorian shrimp exports ...

Source: Fish Focus