As of November 15, 2023, Vietnam’s shrimp exports to Australia stood at over 198 million USD, reflecting a 16% year-on-year decrease. Despite this decline, it is noteworthy that Vietnam has weathered the storm more resiliently than other key markets like the EU, the US, Japan, and South Korea.

The journey of Vietnam’s shrimp exports to Australia throughout 2023 has been marked by fluctuations. The initial seven months witnessed variability, followed by a modest upturn in August and September. However, October brought about a renewed decline, albeit less severe than in preceding months.

Over the last five years, Vietnam’s shrimp exports to Australia have exhibited consistent growth, escalating from 127 million USD in 2019 to an impressive 272 million USD in 2022. This surge has seen Vietnam’s share of total shrimp exports rise from 3.7% in 2019 to a notable 6.3% in 2022.

Within the spectrum of shrimp categories exported to Australia, white leg shrimp dominates, constituting a substantial 95% share. In contrast, black tiger shrimp holds a modest 0.2% share, with other shrimp types accounting for 4.8%. A significant portion of the shrimp products exported to Australia falls under the category of value-added processed shrimp (HS code 16), contributing 40% to the total export value.

Vietnamese shrimp has garnered increasing favor among Australians, finding its way from restaurants to major supermarket chains and convenience stores. The appeal of Vietnamese shrimp in this market extends beyond mere quality and supply capacity; it also hinges on the level of value-added processing, setting it apart from competitors.

Interestingly, Australia is gradually reducing its imports from Thailand and China. The preference for value-added processed shrimp aligns with Vietnam’s strengths, as Thailand’s processing capabilities fall short of Vietnam’s standards. Notably, Australia imports shrimp from approximately 10 countries globally, indicating a strategic focus on major markets. This market concentration presents an advantage for leading shrimp-supplying countries like Vietnam, solidifying their position in the Australian market.