Viet Nam shrimp exports inched up in 2016

Vietnam’s shrimp exports in 2016 reversed the downward trend of 2015. After the negative growth of 25.3% in 2015, shrimp exports reported the positive growth of 0.1 – 12.3% throughout the year of 2016 (except for the negative growth in May 2016). As forecast of VASEP, in 2016, total shrimp export value of Vietnam reached US$3.15 billion; up 6.7% from 2015. In which, whiteleg shrimp accounted for 62%, black tiger shrimp with 29.5% and marine shrimp with 8.3%.

The recovery in shrimp sales in 2016 was thanks to upward trend in global shrimp price, higher demand from importing markets and rise in the output of shrimp, especially black tiger shrimp in the world as well as more stability in currencies in the world. Besides, stability in the domestic price of raw shrimp and rise in export price of shrimp facilitated shrimp exports.

Shrimp farming of Vietnam in 2016 faced some obstacles such as unfavourable weather, salinity, lack of raw material and diseases. Vietnamese exporters encountered pressures from markets such as higher anti-dumping duty on shrimp exported to the U.S.; technical barriers from the markets of EU, Japan, Australia…However, thanks to large investments, technological innovation, big efforts of enterprises; shrimp production and exports of Vietnam reported the recovery in 2016.

In 2016, among Vietnam’ total shrimp products for exports, whiteleg shrimp still dominated with the proportion of 62.1%; black tiger ranked the second with 29.5% and 8.3% for marine shrimp.

Despite the decrease in black tiger shrimp yield in 2016, Vietnam remained the plans to boost the output and raise its export volume of the species amid higher demand from markets and reduction in global output. Vietnam has the advantage of being the largest producer of black tiger shrimp in the world. While the production of black tiger shrimp in main producers (India, Indonesia, South America…) was on the downward trend.

In 2016, out of total shrimp exports, live/fresh/frozen whiteleg shrimp (HS code 03) brought to the highest export value of more than US$1 billion.

In the year, sales of whiteleg shrimp products increased by 12.4% to reach nearly US$2 billion; Exports of black tiger shrimp products brought nearly US$931 million, down 3.4%. The decline in black tiger shrimp exports may be due to shortage of raw black tiger supply.

In 2016, Vietnam shrimp were exported to 93 markets; decreasing compared to 95 ones in 2015.

Top 10 main importing markets included the U.S., EU, Japan, China, South Korea, Australia, Canada, ASEAN, Taiwan and Switzerland; accounting for 95.4% of the country's total shrimp exports.

In 2016, among top 10 largest importing markets, shrimp exports to 8 markets reported the increase but exports to Canada and Taiwan downed 11.6% and 20.8%, respectively. Canada and Taiwan accounted for the proportion of 3.9% and 1.6%, respectively.

Top 5 largest markets included the U.S. (making up the share of 22.5%), the EU with the share of 19.1%, Japan (19%), China (13.8%), South Korea (9%). Exports to these 5 markets rose positively. Of which exports to China showed the largest increase of 24.3%; sales to the U.S, the EU, Japan and South Korea rose 7.9%; 9.4%; 2.7% and 13.6%, respectively.

The U.S. remains to be the largest market of Vietnamese shrimp, making up 22.5% of total shrimp exports in 2016. Vietnam shrimp exports to the U.S. in 2016 reached US$708.8 million; an increase of 7.9% compared to 2015. It was followed by the EU with sales of US$600.4 million, up 9.4%

Japan was the 3rd largest market of Vietnam shrimp after the U.S. and the EU with the proportion of 19% of total shrimp exports from Vietnam.

Despite the decrease in the first two quarters of 2016, Vietnam shrimp sales to Japan in 2016 increased by 2.7% to touch US$599.8 million.

In QI/2017, Vietnam shrimp exports forecast to touch US$619 million, equal to the same period of 2016.

In 2017, Vietnam shrimp sales to the EU may encounter some challenges, however, Vietnam exporters will boost exports to Japan, South Korea, China and the U.S.