January 5, 2018
'Vietnam shrimp exports up 22% in 2017'
Vietnam's shrimp export value was estimated at US$3.8 billion in 2017, up 22% from 2016, according to the Vietnam Association of Seafood Exporters and Processors (VASEP), VNA reported.
The EU was the top importer of Vietnamese shrimp, buying more than $780 million worth of the country's shrimp products in the first 11 months of 2017. The EU purchase represented 22.2% of Vietnam's total shrimp export revenue during the period and an annual increase of 42.4%.
The Netherlands' Vietnamese shrimp imports increased 70.5%, the strongest growth among the EU's three major markets, followed by the UK (54.5%) and Germany (5.9%).
VASEP General Secretary Truong Dinh Hoe said the strong sales to the EU was due to the preferential treatments offered by the 28-member bloc to some Vietnamese shrimp products under the Generalised System of Preferences (GSP). Thailand and China do not enjoy this advantage, he pointed out.
He foresees that Vietnamese shrimp exports will increase further as the country's competitor, India, faces a ban on its shrimp exports due to antibiotics problems. Vietnamese products are a potential replacement, he said.
Also seen to boost Vietnamese shrimp shipments to the EU is the EU-Vietnam Free Trade Agreement, which is expected to take effect this year, the VASEP said. Under this trade deal, tariff for a number of products, which are currently 20%, will be eliminated.
The second-biggest importer of Vietnamese shrimp in 2017 was Japan, followed by China, whose purchase during the January-November period was valued at $637.9 million, or 60.2% more than the previous year.
Based on VASEP's forecast, China will surpass Japan to become the second-biggest importer of Vietnamese shrimps in the first quarter of 2018.