Vietnams shrimp export to Japan shows signs of recovery

Hanoi (VNA) – The export of Vietnamese shrimps to Japan has shown signs of recovery this year, after a 9.2-percent decrease in 2018.

Shrimp processing for export (Source: VNA)

In February, Japan was the only market among the seven largest importers of Vietnamese shrimps posting a rise with a growth rate of 14.7 percent.

The increase was attributed to advantages of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which began taking effect in January.

In addition, the export of shrimps to Japan in 2019 is expected to achieve two-digit growth compared to 2018 as all import tariffs of Vietnam’s aquatic products exported to Japan will be reduced to zero percent within this year thanks to the Vietnam-Japan Economic Partnership Agreement.

Japan is currently the second largest export market for Vietnamese shrimp, accounting for 18 percent of the total in value.

The shrimp export value to this market reached 639.4 million USD last year, down 9.2 percent year-on-year.