Vietnam crab exports to the US increased by nearly 80%

Published 2022년 5월 31일

Tridge summary

Vietnam's crab exports to the US surged nearly 80% in the first quarter of 2022, reaching a five-year high of nearly USD 52 million. This growth is attributed to a recovery in the seafood industry and increased demand following the US fully reopening. The top four markets for Vietnam's crab exports are China, the US, Japan, and France, accounting for over 91% of the total value. Despite a decline in 2021, exports to China and Hong Kong have seen a significant increase, making China the largest crab import market. Additionally, exports to the EU, Australia, and Singapore have declined. This increase in US imports presents an opportunity for Vietnamese crab exporters, especially with the US banning seafood imports from Russia, its main supplier of snow and king crabs.

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

Original content

Vietnam crab exports to the US increased by nearly 80% in the first quarter of this year. Following the growth in the fourth quarter of 2021, Vietnam’s crab exports continued to grow well in the first quarter of 2022. The value of crab exports in this quarter reached nearly USD 52 million, up 62% over the same period in 2021. This is the highest level in the past 5 years, doubling compared to the same period in 2019, the time before the Covid-19 pandemic. The top 4 single import markets include China, the US, Japan, and France, accounting for more than 91% of the total crab export value. After a decline in 2021, Vietnam’s crab exports to China and Hong Kong increased in the first 3 months of 2022 reaching more than 20 million USD, up 104% over the same period. The main reason is that Vietnam’s seafood processing and exporting enterprises have adapted rather well to the market’s “zero Covid” policy. This high growth has made China the largest crab import market from Vietnam. ...

Source: Fish Focus