Ecuador shrimp will further expand exports to China

Despite the low global economy, Ecuador's shrimp exports continued to increase in January. According to statistics from the National Fisheries Association of Ecuador, exports of shrimp in January increased by 95,000 tons, a 30% increase, mainly due to increased exports to China.

China is the biggest exporter of shrimp to Ecuador, sending 59,000 tonnes in January, up 47 per cent from a year earlier, compared with just 16,000 tonnes to the US, up 13 per cent.

However, the price of Ecuadorian shrimp exports fell 15 per cent to $5.46 per kg, with prices falling to varying degrees across the top 10 export markets, with exports to China down 16 per cent to $5.25 per kg.

The upcoming ratification of the Free Trade Agreement (FTA) with China in April will further expand the competitive advantage of Ecuador's shrimp exports. China is one of Ecuador's main trading partners and was the largest trading partner for Ecuador's shrimp in 2021, accounting for more than 46 percent of the country's shrimp exports, while the United States was the second largest partner, accounting for nearly 22 percent of Ecuador's shrimp exports.

The sales volume of Ecuadorian shrimp to China from January to September of 2022 was 304.7 million US dollars.