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Viet Nam's Crab Exports Dip

Economics +1 more

VIET NAM - Cumulative crab export value for Viet Nam in the first eight months of this year is nearly 71 million, down by 2 per cent.

In August 2015, Viet Nam crab exports also declined. The total export value in August was just over 10 million.

Exports to the US fluctuated and declined

After strong growth in February, crabs exports from Viet Nam to the US fluctuated. Through August, crab exports to the US valued more than $34.4 million, down 13 per cent over the same period last year.

Exports to Japan - a surge despite Japanese Yen depreciation

With steady growth, Japan continues to be second most popular destination for Viet Nam crab. In August only, Vietnamese companies earned nearly $2 million from crab export to this market. This represents a 34 per cent year on year increase.

Though the yen depreciated, crab export through August surpassed $12.7 million, up nearly 42 per cent.

Exports to the EU - slowing down

Crabs exports from Viet Nam to the EU decreased continuously in the past 3 months. In August, crab exports from Viet Nam reduced to just over 2 million. Through August, crab export value was over $12.5 million, down more than 13 per cent over the same period last year.

France, Netherlands, the UK and Belgium continued to be the top 4 crab importing markets in the EU. Belgium experienced a 3-digit rise of more than 120 per cent. Crab exports to France and Britain remained low while exports to Netherlands slowed down.

Exports to China and Hong Kong up with Moon Festival

The moon festival, one of China's major celebrations became a factor that boasted crab exports from Viet Nam.

Crab exports to China and Hong Kong in August surged to $580 thousand, up 131 per cent year on year, bringing the total export value for the 8 initial months of 2015 to $3.7 million, up 31 per cent.

Exports to South Korea recorded growth

August recorded a remarkable growth in crab exports to South Korea. The total export value of crabs to the market in the first 8 months of the year touched $922 thousand, up nearly 80 per cent.