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

Published 2022년 11월 16일

Tridge summary

Vietnam's shrimp exports experienced a 23% growth in the first nine months of 2022, generating nearly $3.4 billion. However, the growth rate slowed down in the third quarter and October witnessed a significant decrease of 26% in exports, indicating a downward trend in the import market. The US remains the largest market for Vietnamese shrimp, but exports to other countries experienced positive growth. The high production costs and lack of capital for investment have led to concerns about the growth rate of shrimp exports in the next two months.

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Original content

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 ...

Source: Vinanet