Vietnam: Shrimp exports in April 2024, signs of recovery from the EU market

Published 2024년 5월 27일

Tridge summary

In April, Vietnam's shrimp exports experienced a shift in market trends, with decreased exports to the US and slight increases in exports to China, Hong Kong, and Korea, following a two-month decline. However, exports to the EU market surged, showing the best growth. US imports of Vietnamese shrimp fell by 15% in April, while exports to China and Hong Kong grew by 1.7% and reached 192 million USD in the first four months. EU imports of Vietnamese shrimp increased by 28% in April, amounting to 119 million USD. The global seafood exhibition in Spain in April promoted Vietnamese shrimp products to European consumers. Despite a 10% increase in overall exports in the first four months of the year, the industry faces challenges and is urged to focus on value-added production, efficient farming, and cost reduction to enhance export turnover.

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

Original content

Exports to the US, EU, and Korea reversed In April this year, Vietnam's shrimp exports saw a change in import trends in the main markets. If in previous months, exports to the US and China and Hong Kong recorded strong growth rates, in April this year, exports to the US decreased and to China and Hong Kong only increased slightly. Exports to the Korean market increased slightly again after decreasing in the previous two months. After 2 months of deep decline, exports to the EU market recovered growth in April. The EU is the main market, recording the best growth in April this year. Shrimp exports to the US in April 2024 decreased by 15% after still growing slightly in March. In the first 4 months of this year, Vietnamese shrimp exports to the US reached 168 million USD, up 5% over the same period. Shrimp imports into the US from supply sources in the first quarter of this year recorded an increase in volume and a slight decrease in value. In March of this year, the US again ...

Source: Vasep