Shrimp exports tumble in 2018

Vietnam Economic Times has cited a recent report by the Vietnam Association of Seafood Exporters and Producers (VASEP) as saying that shrimp exports in 2018 fell by 7.8% against 2017, failing to reach the target set for the year.
  • Aquatic product exports likely to rake in US$9 billion this year
  • Hanoi sets up large-scale aquatic farming areas in eight districts
  • Agro-forestry-aquatic product exports likely to exceed 40 billion USD

Vietnam raked in only US$3.55 billion from shrimp exports in 2018, dropping by 7.8% on year. Shrimp exports saw growth only in January and March while suffering continuous drops in the remaining months of 2018.

Shrimp demand of the US and Canada plunged due to snowstorms while Japan, the Republic of Korea, and the EU reported high level of shrimp inventories. Meanwhile, domestic shrimp prices in the second quarter of 2018 went down 20-30%, fluctuating the supply and demand of export markets.

shrimp exports tumble in 2018 hinh 0
Shrimp exports saw growth only in January and March while suffering continuous drops in the remaining months of 2018.

Another drawback was that the international shrimps prices came bottom in late 2018. The shrimp supply of India, Thailand, and Indonesia soared while shrimp inventories in the US went up, hence lagging Vietnam’s shrimp exports.

Vietnam’s shrimp exports to four major markets plummeted. China in particular saw the largest drop of 28%, followed by Japan (9.2%), the EU (2.8%), and the US (3.3%).

The EU remained as the largest importer of Vietnamese shrimp products in 2018, making up 23.6% of the country’s total shrimp exports.

According to VASEP, shrimp exports to the EU are expected to soar in the time to come as the EU-Vietnam Free Trade Agreement (EVFTA) is scheduled to come into effect this year. The US market could be seen as another engine of Vietnam’s shrimp sector in 2019.

The Comprehensive and Progressive Agreement for Trans - Pacific Partnership (CPTPP) is also expected to leverage shrimp exports as many tariff lines levied on aquatic products will be lifted when the trade pact is in effect.

Accordingly, aquatic exports to Australia are set to enjoy no tariffs right after the CPTPP takes effect, while Canada and Chile are projected to slash the tariff to 0%.

VOV

Other News

A view of a container port in Singapore. (File photo: Xinhua/VNA)

Vietnam-Singapore trade cooperation gains fresh momentum

Analysts noted that Vietnam-Singapore ties are increasingly moving beyond traditional goods trade towards green growth, innovation and high-quality supply chains, laying a stronger foundation for more substantive and sustainable cooperation in the years ahead.

Vietnamese products make strong impression at Foodservice Australia 2026

Vietnamese products make strong impression at Foodservice Australia 2026

International visitors expressed positive impressions of Vietnamese products displayed at the fair. Nelma Sanjines, senior supervisor at ESP Catering in Sydney, praised the flavour of Vietnamese chilli sauce and soy sauce as well as the attractive packaging of confectionery products.

Digital technology helps standardise supply chains, sustain export competitiveness

Digital technology helps standardise supply chains, sustain export competitiveness

Experts noted that supply chain optimisation and risk management are no longer isolated tasks for individual companies but a requirement for the entire export ecosystem. With guidance from regulators, support from industry experts and their own efforts, Vietnamese exporters are expected to enhance their competitiveness and turn technical barriers and market volatility into opportunities for sustainable growth in global markets.

Vietnam seen as attractive investment destination for 2026–2035

Vietnam seen as attractive investment destination for 2026–2035

The article described Vietnam as strategically positioned along major regional maritime routes, including the East – West corridor linking the Americas, the Middle East, India and Europe, and the North – South corridor connecting China and Southeast Asia, helping make the country a gateway for international trade.

Eco-industrial parks seen as catalyst for higher-quality FDI

Eco-industrial parks seen as catalyst for higher-quality FDI

The eco-industrial park model will help Vietnam meet international environmental standards while creating opportunities to improve growth quality and economic competitiveness. Many multinational corporations now view green standards, emissions reduction and energy efficiency as key conditions when selecting investment destinations.

Promoting Vietnamese Brands at an International Food Fair in Gwangju

Promoting Vietnamese Brands at an International Food Fair in Gwangju

Alongside exhibition activities, trade promotion, and business networking programs, the “Gwangju Global Food Fair 2026” also witnessed the signing ceremony of a Memorandum of Understanding (MOU) between the Vietnam–Korea Businessmen & Investment Association (VKBIA) and the Gwangju Tourism Organization of South Korea.

Hanoi proposes subsidies to accelerate shift to electric vehicles

Hanoi proposes subsidies to accelerate shift to electric vehicles

Under a draft resolution currently open for public feedback by the municipal People’s Committee, residents with permanent or temporary residence registration in Hanoi for at least two consecutive years, who own petrol-powered motorbikes registered before the resolution takes effect, will be eligible for support when purchasing electric motorbikes priced at 10 million VND or more.

Private economic sector poised for breakthrough growth

Private economic sector poised for breakthrough growth

More than a year after the Politburo's Resolution No. 68-NQ/TW on private sector development came into effect, expectations now extend beyond increasing the number of enterprises. The goal is to build a stronger business community with greater resilience, larger ambitions and the capacity to compete in global supply chains.

Vietnam remains ASEAN growth leader in 2026 despite global headwinds: WB

Vietnam remains ASEAN growth leader in 2026 despite global headwinds: WB

Vietnam is expected to remain one of ASEAN’s fastest-growing economies in 2026, supported by resilient exports, strong investment inflows and an ambitious reform agenda, despite mounting global uncertainties, according to the World Bank’s latest Vietnam Economic Update released on May 15.

Ministry establishes monitoring framework for carbon market

Ministry establishes monitoring framework for carbon market

Under a new circular, the exchange of greenhouse gas emission quotas and carbon credits is conducted on the domestic carbon credit exchange through the carbon trading system, which is interconnected with the national registration system.