Vietnam.- Shrimp imports into the EU accounts for about 30.6% of total worldwide imports, ranging from US$6-8 billion per year. In the past 10 years (2007-2016), shrimp imports into the bloc increased from US$5.6 billion to US$6.7 billion in 2016. The export value bottomed out at US$5.4 billion in 2009 and reached a peak US$7,6 billion in 2014.
Shrimp imports into the EU in 2016 inched up 2% compared to 2015 in value, but in the first 5 months of 2017, the figure downed 18.4% over the same period in 2016. This was driven by a dip in shrimp production from suppliers and a rise in prices, which made the demand for this product decrease.
In 2016, Spain was the single largest importer of shrimp in the EU, accounting for 17.7% of total shrimp imports into the EU. France and the UK respectively ranked the 2nd and the 3rd biggest ones, accounting for 13.6% and 12.9%; the Netherlands ranked the 4th with 9.3%.
In the first 5 months of 2017, shrimp imports into the EU reached over US$2 billion; down 18.4% over the same period in 2016. Out of top 4 leading buyers of shrimp into the EU, the import value of shrimp into Spain reached US$369.2 million; increased by 7.3%; those into France hit US$338.6 million; decreased by 1.4%; those into the UK touched nearly US$230 million; down 8.2% over the same period in 2016.
According to the data from Vietnam customs, in the first 8 months of 2017, the EU became the largest importer of Vietnam shrimp. Vietnam’s shrimp exports to the EU in the period amounted to US$483.6 million; increased by 30% over the same period of 2016.
As of August this year, shrimp shipments to top 3 biggest importing markets of Vietnam (the UK, the Netherlands, Belgium) in the EU reported the 2-digit growth of 46.5%; 47.8% and 34.1%, respectively. Vietnam’s shrimp sales to the EU currently recorded the good growth as the EU consumers prefer value-added seafood products and increase imports for year-end festivities.
On the EU market, Vietnam shrimp has to compete with the same item form India and Ecuador. While India tends to reduce shrimps exports to the EU, Ecuador and Vietnam are increasingly promoting shipment of shrimp to the market.
In the coming time, when Vietnam – EU Free Trade Agreement (EVFTA) takes effect (in 2018), Vietnam’s shrimp exports to the EU expected to continue positive growth thanks the preferential tax rate.
Source: VASEP
