As per the information release by the government sources it is found that by the end of October 2011 Vietnam shrimp export value hit nearly US$2 billion. Based on this analysis it is expected that shrimp exports of Vietnam this year will exceed US$2.1 billion of last year. Among three key import markets, monthly shrimp exports to Japan and the U.S went up and down but exports to the EU grew firmly. Record shows that the markets like China, South Korea, Canada and Russia were boosted sharply, which stablises the growth of Vietnam shrimp exports.
The most promising growth of shrimp market was registered in EU, continuous and high. The proportion of shrimp export value to the EU rose from 16 percent in 2010 to 18 percent in the first 10 months of 2011. Although average export price of shrimp to the EU is lower than that to the U.S. or Japan, the EU has still ranked the third among importers of Vietnam shrimp for many years thanks to its stable demand.
Official data revealed that in Jan-Oct 2011, Vietnam shipped over US$350 million of shrimp to the EU, up 29 percent over that of the same period of 2010. The total shrimp export value to these markets made up 57 percent of shrimp export value to EU. The US market was bit up and down as the shrimp exports to the market gained positive results however in September, shrimp exports to the U.S. sank dramatically with a value reduction of 25.3 percent against the same period of 2010.
This year, shrimp shipment to Japan encountered many bottlenecks. From March to the end of July 2011, shrimp exports to the market edged down deeply, then recovered strongly and in October, shrimp shipment to Japan reached US$80 million, up 24.4 percent over that of October 2010, bringing the total shrimp exports to Japan in the first 10 months of 2011 to over US$477 million, down slightly 0.04 percent over the same period of 2010.