According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first two months of 2025, Vietnam’s shrimp exports showed positive signs, with 542.387 million USD, a growth of 30.8% compared to the same period last year. Specifically, in February, shrimp export turnover reached 231.406 million USD, an increase of 33.9%.
Thanks to this result, Vietnam has become the second-largest shrimp supplier in the world, with export value accounting for 13-14% of the total global shrimp export value.
Among Vietnam’s main export markets, the UK has recorded the most positive results. Currently, this is the sixth-largest single market for Vietnam’s shrimp imports, accounting for 5.5% of Vietnam’s total shrimp exports to all markets. Shrimp is the product with the highest proportion (70%) in the total seafood exports from Vietnam to the UK.
Shrimp is the item that accounts for the highest proportion of Vietnam’s total seafood exports to the UK.
From 2018 to 2024, shrimp exports to the UK peaked in 2020 at over 243 million USD, then faced a gradual decline and reached their lowest point in 2023. In 2024, shrimp exports to the UK showed signs of recovery with over 212 million USD. Entering January 2025, shrimp exports to the UK continued to maintain the growth momentum of 2024.
The UK is considered an important market for Vietnamese shrimp, with many advantages in the bilateral trade relationship between the two countries. Currently, Vietnam has participated in two new-generation FTAs with the UK, namely the CPTPP Agreement and the UKVFTA. These two agreements facilitate businesses from both countries to fully exploit trade and investment opportunities, including exporting shrimp to the UK.
In the UK market, Vietnam remains the largest shrimp supplier. Here, Vietnamese shrimp have to compete strongly on price with shrimp from India and Ecuador.
The two agreements help Vietnamese shrimp have a competitive advantage over other trade rivals such as China, Thailand, Malaysia, Indonesia, the Philippines, India, Brazil, and others. And to enjoy the preferential tax rates as committed in the agreements, Vietnamese seafood products must prove their origin and meet the requirements for sustainability and social responsibility.
Shrimp account for about 10% of the total seafood consumption in the UK. In the restaurant or food service sector, shrimp is quite a popular ingredient, with about 61% of these businesses in the UK. Besides, shrimp is also favored in Indian and Chinese restaurants, with soup, dumplings, or spring rolls.
British consumers always choose products that meet high standards set by regulatory authorities in the UK and EU regarding product quality, origin, sustainability, environmental friendliness, and convenience. Therefore, to significantly increase market share in the UK, Vietnamese products need to meet the requirements for quality, design, appearance, and taste.
The outlook for the shrimp industry in 2025 is considered quite optimistic by the VASEP. The average import price has been increasing since October 2024 and is expected to remain high throughout 2025 due to stable inventory.