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Vietnamese shrimp still dominate the Korean market

According to data from Vietnam Customs, as of November 15, 2022, Vietnam's shrimp exports to South Korea reached nearly $422 million, up 33% over the same period in 2021.
Update: (12/28/2022)


Vietnam's shrimp exports to South Korea have grown quite well since the beginning of the year with continuous positive growth rates from January to September. However, in October  the export value decreased slightly by 1% as enterprises are facing many difficulties such as high global inflation, reduced orders, and lack of production capital.

Vietnam's shrimp exports to South Korea in 2022 are more positive than in 2021 thanks to the advantage of geographical location. Like the Japanese market, South Korea is the preferred export market for enterprises in the context of high freight rates, record inflation and falling demand in the US and EU markets.

Vietnam's shrimp exports to South Korea have grown quite well since the beginning of the year with continuous positive growth rates from January to September. However, in October  the export value decreased slightly by 1% as enterprises are facing many difficulties such as high global inflation, reduced orders, and lack of production capital.

Vietnam's shrimp exports to South Korea in 2022 are more positive than in 2021 thanks to the advantage of geographical location. Like the Japanese market, South Korea is the preferred export market for enterprises in the context of high freight rates, record inflation and falling demand in the US and EU markets.

Source: VASEP


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