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Viet Nam Crab Exports Increase by Six Per Cent

16 September 2015

VIET NAM - In first seven months of 2015, Vietnamese crab exporters earned a total revenue of over $60.7 million, up nearly six per cent year on year. In the first half of 2015, Viet Nam exported crab to 34 markets, adding six markets comparing to the same period in 2014.

Top eight markets accounted for 96 per cent of total exports. Top eight markets included the US, the EU, Japan, China and Hong Kong, ASEAN, Australia, Taiwan and Canada.

Except for the EU and Canada, exports to all markets rose.

The US

Accounting for nearly 47 per cent of total export value, the US has maintained its position as Viet Nam's largest crab importing market. In the first 7 months of this year, Viet Nam earned $30 million from crab exports to this market, up 1.7 per cent over the same period last year.

According to the ITC, from January to May, the US crab imports declined in both volume and value.

Imports from ASEAN accounted for 37.7 per cent of total crab imported into the US, reporting a 31.4 per cent increase from the same period in 2014.

Viet Nam is the 6th biggest crab supplier to the US and the third biggest among ASEAN nations to export crab to the market, just after Indonesia and the Philippines.

Crab from Viet Nam occupied 4.3 per cent of total US crab imports and 11.5 per cent of US crab imports from ASEAN.

Japan

Japan has surpassed to be the 2nd biggest crab market for Viet Nam. According to the ITC, Japan sourced crab from 23 countries, down 23 per cent in volume and down 29 per cent in value. In the first 7 months of the year, crab exports of Viet Nam crabs to this market still get higher, reaching $10.7 million, up 28.7 per cent .

Viet Nam is among top 7 crab suppliers to Japan.

EU

The EU is now the third biggest market. In the first 7 months of this year, bringing nearly US$ 10.5 million to Vietnamese exporters, down 12 per cent yoy. According to the ITC, the EU crab imports declined 16.7 per cent yoy. Viet Nam continues to be the 2nd largest source, just after the UK.

The depreciation of the EUR against the USD discouraged imports in Europe. Greece became the first developed country to default on its international obligations, therefore, demand from the market is likely to decrease.

TheFishSite News Desk



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