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Shrimp exports in Vietnam in October decreased by 26% because of weak demand

Updated Nov 16, 2022
VASEP said that in October, with a deep decrease of 26%, shrimp exports had clearly revealed the downward trend of the import market as well as the inadequacies of shrimp businesses in particular and the whole seafood industry in general.
According to the Association of Seafood Exporters and Producers (VASEP), Vietnam's shrimp exports in the first nine months of 2022 recorded a growth of 23% to nearly $3.4 billion. However, shrimp exports really only saw a breakthrough in the first half of the year thanks to high export prices and strong market demand. Since the third quarter, shrimp exports have slowed down and gradually decreased compared to the same period last year and decreased compared to the previous months. In the third quarter of 2022, the country's shrimp exports reached 1.13 billion USD, a slight increase of 9% over the same period last year. In which, whiteleg shrimp exports only increased by nearly 4%, black tiger shrimp exports decreased by 7%. Particularly in September, whiteleg shrimp exports decreased by 5% over the same period, black tiger shrimp exports decreased by 7%. However, lobster exports in the third quarter increased more than 4 times over the same period. In October, with a ...
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