Global Food

In 2020, Vietnam’s aquatic product exports reached 8.6 billion U.S. dollars, of which shrimp exports were 3.78 billion U.S. dollars, a year-on-year increase of 12.4%. According to this, despite the ups and downs due to the epidemic in the year, shrimp exports will still become the highlight of the aquaculture industry in 2020. 　　

According to the Vietnam Aquatic Products Processing and Export Association (VASEP), although the Covid-19 epidemic has spread complexly throughout the world, especially the shrimp import and supply markets, Vietnam's shrimp export activities are still proceeding well. Especially at the end of the year, there was a pleasing contrarian reversal trend. 　　

The U.S. is Vietnam’s largest and most stable shrimp export market in 2020, accounting for 23.5% of total exports. Although the United States is the country most severely affected by the Covid-19 epidemic in the world, Vietnam’s shrimp exports to the country have achieved positive growth in the first 11 months of 2020, with exports amounting to US$806.6 million, a year-on-year increase of 34%. 　　

The EU is Vietnam’s fourth largest shrimp export market, second only to the United States, Japan and China, accounting for 13.7%. It is worth noting that Vietnam’s shrimp exports to the European Union declined continuously from March to June, and rebounded in July and August. Specifically, in July 2020, the export value was 54.2 million US dollars, an increase of 2% from the previous month. The export value in August was 394.6 million US dollars, an increase of 12% year-on-year and an increase of 7.2% month-on-month. This depends on the positive impact of EVFTA that will take effect in August 2020. 　　

After Vietnam’s shrimp exports to China achieved double-digit growth in September and October 2020, they fell 21% in November to US$42.8 million. In the first 11 months of 2020, Vietnam’s shrimp exports to China reached 496.8 million US dollars, an increase of 0.8% year-on-year. 　　
Since the beginning of 2020, Vietnam’s shrimp exports to ASEAN have been volatile. It achieved positive growth from February to April 2020, and declined in the remaining months. Vietnam's shrimp exports to Cambodia have risen sharply year-on-year. 

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