Shrimp exports to the EU are expected to be positive in the first quarter of the year
The Vietnam Association of Seafood Exporters and Producers (VASEP) forecasts that the value of shrimp exports to the EU will have double-digit growth in the first quarter of 2021.
This is due to the strong increase in consumption demand of a number of markets in Northern Europe compared to 2020.
This forecast was made by VASEP after shrimp exports to this market reached USD 30 million, an increase of 16% in January 2021. In which, the export value to Germany increased by 27.5%; to the Netherlands increased by 30.6%, to Belgium increased by 2.1%, and to Denmark increased by 72%.
The EU is currently Vietnam's fourth largest shrimp importer after the US, Japan and China.
Ealier, in the first half of 2020, due to negative impacts of COVID-19, shrimp exports to the EU continued to decline. As of the third quarter of last year, exports resumed growth. However, as of the end of 2020, the turnover of this item decreased slightly.
In terms of products, whiteleg shrimp accounted for nearly 80% of the total export value last year, all processed, raw, fresh and frozen types increased. Meanwhile, processed tiger shrimp and other shrimp decreased slightly compared to 2019.
The Netherlands is the largest shrimp import market of Vietnam in the EU, accounting for 28% and accounting for 3.9% of Vietnam's total global shrimp export value. From February 2020 to date, shrimp exports to this market have been almost not affected by Covid-19 and have gained positive growth. Currently, there are 65 Vietnamese enterprises exporting shrimp to the Netherlands.
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- Fitch revised Vietnam's outlook to “Positive”
- Exports of goods to the EU reached approximately USD 10 billion
- Taking advantage of EVFTA, exports in the first two months of the year grew impressively
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- Vietnam is the largest shrimp supplier to Japan
- Shrimp exports to the EU are expected to be positive in the first quarter of the year