VASEP forecast upbeat shrimp export growth for 2018

The Vietnam Association of Seafood Exporters and Processors (VASEP) has projected shrimp exports to continue gathering momentum this year, particularly in the EU and China.

Vietnam’s shrimp export value was estimated at US$3.8 billion in 2017, up 22% from 2016.

The EU was the top importer of Vietnamese shrimp, totaling more than US$780 million worth of the country’s shrimp products in the first eleven months of 2017, 22.2% of Vietnam’s total shrimp export revenue in the period and an annual increase of 42.4%. The Netherlands’ imports grew 70.5%, the strongest growth among the three major EU markets for Vietnamese shrimp products, followed by the UK (54.5%) and Germany (5.9%). 

VASEP General Secretary Truong Dinh Hoe attributed the outcomes to preferential treatments offered by the EU to some Vietnamese shrimp products under the Generalised System of Preferences (GSP). Thailand and China do not have this advantage, he said.

Vietnam’s biggest competition in the bloc are India and Ecuador, he noted, adding that Indian shrimp exports to the EU might fall and face a ban due to antibiotics problems. Vietnamese products could be a potential replacement, he said.

According to Hoe, to capitalise on the EU’s preferential import tariff, Vietnamese exporters have chosen domestic materials and invested more in intensive processing for better value added.
|
Exporters said Vietnamese shrimp’s big win in the EU last year came from consumers’ preference for convenient seafood products and higher demand during the year-end holiday season. Sources of cold-water shrimps saw higher prices and dwindling supply, increasing the bloc’s demand for Vietnamese imports.

The VASEP said the EU-Vietnam Free Trade Agreement, expected to take effect this year, will boost Vietnamese shrimp shipments to the bloc thanks to tariff elimination for a number of products, which are currently taxed at 20%.

Earnings of Vietnamese shrimps exported to China grew 60.2% to reach US$637.9 million between January and November 2017. 

China has witnessed a reduction of domestic shrimp sources due to poor weather and diseases, while demand is rising thanks to the expansion of the middle-income group and tourist arrivals. From December 1, 2017, the country’s tariff on frozen shrimp imports fell to 2% from 5%.

China is forecast to surpass Japan to become the second biggest importer of Vietnamese shrimps in the first quarter of 2018.

Apart from these upbeat signs, difficulties were foreseen in quantity and quality of Vietnam’s shrimp production, with weather and diseases posing significant risks.

Ho Quoc Luc, head of the Sao Ta food company, pointed to small and scattered production models that make it hard to trace origins, while food safety requirements are being tightened in key import markets. 

To fulfill the requirements, Vietnamese exporters must focus on quality assessment of materials, which could cause prices to increase and reduce competitiveness.

In that context, the building of international-standard material areas for shrimp export is key to growing the sector.

VNA

Other News

Data-driven land valuation to curb speculation: Experts

Data-driven land valuation to curb speculation: Experts

From a property-market perspective, Do Thi Thu Giang, National Director of Valuation and Advisory at Savills Vietnam, said the orientations under Resolution No. 21-NQ/TW could make the market more transparent and efficient, with property values increasingly tied to actual development and use potential.

Resolution No. 19-NQ/TW sets new growth drivers for Vietnam

Resolution No. 19-NQ/TW sets new growth drivers for Vietnam

Science and technology, innovation, digital transformation and AI must be translated into higher productivity rather than pursued as ends in themselves. At the same time, people should be placed at the centre of development, not merely viewed as a resource but as the ultimate objective of development policies.

Expo to open door for Vietnamese suppliers to enter US market

Expo to open door for Vietnamese suppliers to enter US market

US retail giant Target is seeking Vietnamese suppliers of household goods, home textiles, children’s products, personal care and beauty products, with a focus on companies capable of manufacturing and developing products that meet requirements on quality, design and supply chain management.

2026 Banking Sector Digital Transformation to open in Hanoi

2026 Banking Sector Digital Transformation to open in Hanoi

The annual event, which will be held on August 18-19, 2026, at the ICE International Exhibition Centre, 91 Tran Hung Dao Street, Hanoi, is expected to attract around 324 delegates and feature 21 booths representing credit institutions, payment intermediary service providers, and technology companies.

Vietnam – one of most attractive destinations for leading US semiconductor companies: expert

Vietnam – one of most attractive destinations for leading US semiconductor companies: expert

Vietnam has built a solid semiconductor and electronics industry before joining ITSI, attracting major US semiconductor companies. Intel Products Vietnam is one of Intel's largest assembly and testing facilities worldwide, while chip design companies such as Synopsys, Cadence, Marvell and Qualcomm have established engineering and research centres in the Southeast Asian country.

Vietnam targets higher-quality FDI under Resolution 10

Vietnam targets higher-quality FDI under Resolution 10

During the first seven months of 2026, Vietnam attracted more than 38 billion USD in registered FDI, up nearly 58% year-on-year. More importantly, the increase was driven by large-scale, high-tech projects rather than a surge in the number of new investments, signalling a significant improvement in the quality of capital inflows.

Manufacturing, engineering drive hiring growth in H1: report

Manufacturing, engineering drive hiring growth in H1: report

Manufacturing and engineering posted the strongest recruitment growth, with hiring demand surging 70% year-on-year, driven by production expansion, supply chain restructuring and sustained investment inflows in high-tech manufacturing.

Government proposes special mechanisms to unblock APEC 2027 projects in Phu Quoc

Government proposes special mechanisms to unblock APEC 2027 projects in Phu Quoc

The projects in Phu Quoc have been implemented under tight deadlines. Since May 2025, the Prime Minister has directed preparations for APEC 2027, including accelerated infrastructure development on the special zone. An Giang province and investors have subsequently launched a number of major projects involving complex technical requirements and demanding construction schedules.

Financial market reform plan targets high, sustained growth through 2045

Financial market reform plan targets high, sustained growth through 2045

The plan seeks to develop a balanced and modern financial market that is closely integrated with regional and global markets, strengthens the mobilisation and allocation of domestic and foreign capital, and enhances the market’s role as a key provider of medium- and long-term capital for the economy and as a major driver of sustained high economic growth.

An Giang aims to become leading maritime economic hub

An Giang aims to become leading maritime economic hub

Under the province's master plan for 2021–2030 with a vision to 2050, An Giang will prioritise investment in five strategic sectors: strategic infrastructure; processing industries and clean energy; trade, services, logistics and border-gate economy; high-quality tourism; and high-tech agriculture, ecological development and the circular economy.