Shrimp exports to US surge in September
In this article (4)
Shrimp exports to the U.S. in September increased 23% compared to the same period last year, marking the third consecutive month of positive growth.
The 23% growth in September was also the highest compared to the previous two months, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
However, in the nine months of 2023, shrimp exports to the U.S. reached $520 million, down 23% compared to the same period.
The bigger export is due to higher consumption in the U.S. market. The International Monetary Fund raised its U.S. growth projection for this year by 0.3 percentage points, compared with its July update, to 2.1%. It hiked next year’s forecast by 0.5 percentage points, to 1.5%, according to CNBC.
Vietnam’s shrimp exports to all markets reached $2.5 billion in the first nine months of this year, down 26% from 2022.
Questions & Answers
Q.Why did shrimp exports to the US increase in September?
Why did shrimp exports to the US increase in September?
The increase in September is attributed to higher consumption in the U.S. Market. The International Monetary Fund also raised its U.S. Growth projection for this year to 2.1%.
Q.How do the September export figures compare to earlier in the year?
How do the September export figures compare to earlier in the year?
While September saw a 23% increase, overall shrimp exports to the U.S. In the first nine months of 2023 were down 23% compared to the same period last year, reaching $520 million.
Q.What is the overall trend for Vietnam's shrimp exports to all markets this year?
What is the overall trend for Vietnam's shrimp exports to all markets this year?
Vietnam's total shrimp exports to all markets reached $2.5 billion in the first nine months of this year. This figure represents a 26% decrease from the amount exported during the same period in 2022.
Reader pulse
Will this US import surge continue?
24,086 votes so far