(vasep.com.vn) Russia is the 9th largest market for shrimp imports from Vietnam, accounting for 1.3% of the total value of Vietnam's shrimp exports. Although it is only a small import market, Vietnam's shrimp exports to Russia in the first 7 months of this year grew very well. However, from August until now, due to social distancing to prevent the Covid epidemic, production has been halted, shrimp exports to Russia as well as all markets have decreased.
In the first 7 months of this year, Vietnam's shrimp exports to Russia reached over $27 million, up 87% over the same period last year. In the first 7 months of the year, exports only decreased slightly by 9% in April, the rest of the months had high growth, of which May, May and June grew by 3 digits. From August onwards, due to social distancing to prevent the Covid epidemic, Vietnam's shrimp exports to Russia decreased. In the first half of September 2021, shrimp exports to Russia decreased by 40% over the same period. Accumulated to September 15, 2021, Vietnam's shrimp exports to Russia reached 32.5 million USD, up 51% over the same period last year.
According to data of the World Trade Center (ITC), in the first 7 months of this year, Russia imported shrimp from 25 sources. In which, Vietnam is still the third largest shrimp supplier to Russia, after India and Ecuador. In addition, some other large shrimp suppliers are also focusing on exporting shrimp to the Russian market such as China, Bangladesh, Indonesia, Argentina, Thailand...
Russia's shrimp imports increased continuously from 2016 to 2020 from $214.7 million in 2016 to $320.7 million in 2020. In the five years from 2016-2020, Russia increased shrimp imports from the main suppliers Ecuador, India. India, Vietnam, Argentina while gradually reducing imports from China, Bangladesh, Indonesia, Thailand.
According to ITC, Russia's shrimp imports in the first 7 months of this year reached over 276 million USD, up 82% over the same period. Vietnam ranks third in supplying shrimp to Russia, accounting for 10% of the market share. Russia's shrimp imports from these three sources all grew positively, imports from Ecuador and India increased by 42% and 88% respectively while imports from Vietnam increased by 106%.
Vietnam's shrimp exports to Russia increased from 15.7 million USD in 2017 to 41.1 million USD in 2020, up 162%. As of the first half of September this year, Vietnam's shrimp exports to Russia have reached 32.5 million USD. This shows that Vietnam's shrimp exports to Russia are on a very good growth trend, along with advantages from the Vietnam - Eurasian Economic Union (EAEU) Free Trade Agreement.