Shrimp exports to pick up 4 percent by year-end hinh anh 1Production of shrimp for exports at a factory in the Mekong Delta province of Ca Mau. (Photo: VNA)
Hanoi (VNA) – Vietnam’s shrimp export earnings will hit around 3.9 billion USD this year, up 4 percent from 2020, according to Le Hang, Deputy Director of the Vietnam Association of Seafood Exporters and Producers (VASEP)’s Training and Trade Promotion Centre (VASEP.PRO).

Vietnam exported over 367 million USD worth of shrimp products in November, bringing the total export revenue in the first 11 months of the year to more than 3.5 billion USD, a year-on-year increase of 3.4 percent, Hang said.

Strongest growth was seen in exports to the US, EU, and Australia while some other markets experienced stagnancy or slight decreases.

Shrimp accounts for a half of Vietnam’s seafood export value. Shrimp exports have expanded strongly since the beginning of this year before the sector was hard hit by impacts of the COVID-19 restrictions between August and September.

The US remained Vietnam’s largest importer, purchasing 28 percent of total exports, during the period. It was followed by Japan with 15 percent.

Shrimp exports to the EU has swiftly bounced back since October, with Vietnam being a major supplier to Germany, the Netherlands and Belgium.

However, shipments to China constantly declined largely because the neighbouring country has tightened COVID-19 preventive rules on food imports at all border gates. Revenue from exports to China has decreased over 24 percent so far this year to 375 million USD.

Hang forecast that demand from major markets like the US, EU, Australia, Canada, and the Republic of Korea will be likely on a rise and the US continues to be the main driver of growth./.