In the past 5 years, Vietnam's shrimp exports have achieved about 5% growth per year, accounting for about 45% of total seafood export turnover. Regarding the outlook for the next five years, according to VASEP, by 2025, shrimp exports would reach a turnover of USD 5.6 billion, an annual growth of 9%.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), from 2015 onward, Vietnam used to be the world's largest shrimp exporter. However, Indian shrimp has risen strongly since 2015, Ecuadorian shrimp has made a breakthrough since 2018, making Vietnamese shrimp ranked 3rd in the world.

However, the gap between these top 3 proportions is not much different. Specifically, in the annual value of USD 26-28 billion of shrimp imports worldwide, India accounts for 15.7%, Ecuador accounts for 14% and Vietnam accounts for 13.6%.

Vietnam's shrimp farming area is over 740,000 hectares, the output is over 900,000 tons/year, concentrated in the Mekong Delta (over 80%). Vietnamese black tiger shrimp ranks first in the world with over 250,000 tons. Shrimp production increased by 10%/year.

The main markets for Vietnamese shrimp consumption are the US (20-23%), Japan (16-18%), EU (15-20%), China (13-15%), South Korea (9-10) %). Vietnamese shrimp ranks high in major markets. In which, taking the 1st place in Japan, the 2nd in the EU, the 5th in the US, the 4th in China, the 1st in Korea, and the 1st in Australia, etc.

Export turnover is about USD 3.8 billion/year, ranking third in the world after India and Ecuador. In the past five years, Vietnam's shrimp exports have grown by 5% per year. Shrimp export turnover accounts for about 45% of total seafood export turnover.

Regarding the outlook for the next five years, according to VASEP, by 2025, shrimp exports would reach a turnover of USD 5.6 billion, growing at 9% annually.

Regarding the market, the main market is the United States. With export turnover in 2021 estimated at over USD 3.8 billion, a slight increase compared to 2020, shrimp is still the key product of Vietnam's seafood exports. According to Mr. Truong Dinh Hoe - General Secretary of VASEP, the important factors that help shrimp exports to remain successful in 2021 is that Vietnam has taken advantage of the opportunities, demand for shrimp consumption is still high, consumption markets are stable, etc.

Kylie Nguyen