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Shrimp exports to UK show abrupt increase

The UK is the only nation within the Eurozone has experienced a strong growth in shrimp imports from Vietnam, during the first five months of the year.

According to Vietnam Customs, shrimp exports to the UK surged 50.9% to US$36.2 million within the first five months of the year. In May alone, shrimp exports to the UK rose 100%, to US$9.4 million compared to the previous month.

The increase is attributable to Vietnam’s competitive shrimp prices, compared to other nations. In addition, some shrimp types from Thailand have not enjoyed the Generalized System of Preferences (GSP) since 2014, leading to a 20% tax rise.

In the first four months, Vietnam’s shrimp exports to the UK grew 16.8% while shrimps imported into the UK from India, Indonesia, Thailand dipped 20%, 30% and 22% respectively.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), British consumers tend to consume aquatic products, especially warm-water shrimp, thus driving shrimp exports the EU and the UK up in the time ahead.