20.01.2022, 16:02

Shrimp exports to the USA exceed USD 1 billion for the first time

Shrimp exports to the USA exceed USD 1 billion for the first time

Shrimp exports to the USA exceed USD 1 billion for the first time. Photo: TL.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), information from the General Department of Customs shows that Vietnam's shrimp exports to the USA in the whole year of 2021 are estimated at approximately USD 1.05 billion, up 21% compared to 2020. This is the first time shrimp exports to the USA surpassed the USD 1 billion mark in a year.

The USA is currently Vietnam's largest shrimp import market, accounting for 28% of total shrimp export value. Vietnam's shrimp exports to the USA have constantly shown significant growth in all months of 2021 and thus the 12-month accumulation results in the best growth rate among Vietnam’s top main markets. VASEP prognosticates that Vietnam's shrimp exports to the USA in the first quarter of 2022 will maintain a positive growth rate.

Vietnam is currently the fifth strongest shrimp supplier to the US market. Vietnam is among the top suppliers that recorded positive growth in shrimp supply to the US in 2021.

The USA is known to be the world's leading shrimp import market. From 2016 to 2020 the value of shrimp imports to the USA ranges from USD 5.7 to 6.5 billion, and the import volume ranges from 606,000 to 749,000 tons.

In 2021 the US shrimp import volume surpassed 800,000 tons for the first time, also reaching a new record in terms of shrimp importation as the value surpassed the USD 7 billion mark.


Author: Son Trang

Translated by Samuel Pham