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Ecuador reached new heights in its shrimp export industry, breaking records with a staggering volume of 2.677 billion pounds in 2023, equivalent to over 1.3 million tons. This achievement marked a remarkable 14% increase compared to the previous year.
Value Decrease Due to Shipping Prices
While the increase in export volume was impressive, the value of these exports took a hit due to declining shipping prices. The National Chamber of Aquaculture (CNA) of Ecuador reported that the total collection from shrimp exports in 2023 amounted to USD 6.289 billion. Although this figure represents a substantial amount, it was 5% less than the USD 6.653 billion obtained in 2022.
One of the significant factors contributing to the decreased export value was the fall in the average price per pound of shrimp. In 2022, this price stood at USD 2.84, but in 2023, it dropped to USD 2.35.
China Emerges as Top Destination
China emerged as the primary destination for Ecuador’s shrimp exports, with a 59% share of the total volume. China imported 1.576 billion pounds (788,000 tons) of shrimp from Ecuador in 2023, marking a substantial 21.3% increase from the previous year. The total value of these exports to China amounted to USD 3.5 billion.
Following China, Europe secured the second-largest share of Ecuadorian shrimp exports, accounting for 18% of the total volume. In 2023, Europe imported 469 million pounds (234,500 tons) of shrimp, a notable 12.85% increase from the previous year. The value of these exports to Europe reached USD 1.11 billion.
Spain Leads the Way in the European Union
Within the European Union (EU), Spain emerged as the top destination for Ecuadorian shrimp shipments. Spain imported 142 million pounds (71,000 tons) of shrimp in 2023, indicating a 6.10% increase compared to 2022. The total turnover from shrimp exports to Spain amounted to USD 317 million.
In the global shrimp export destinations, the United States secured the third spot, with a 17% share of the total volume exported from Ecuador. In 2023, the U.S. imported 454 million pounds (227,000 tons) of shrimp, representing a 5.44% increase from 2022. The total value of these exports to the United States reached USD 1.251 billion.