US shrimp imports declined in 2023

Shrimp has always been considered one good indicator of the economic performance of a country, particularly at consumer level. Last year was no exception. In view of high perceived inflation and overall economic discontent, imports were down as US consumers were reluctant to purchase shrimp. Total import quantity in 2023 was just below 790 000 tonnes, which compares to almost 900 000 tonnes in 2021. However, it is important to note that 2023 marked a recovery moment from the COVID-19 year 2020, when shrimp imports had been at a record low.

The total value of shrimp imports into the United States of America was low in 2023, again denoting a sharp decline in demand for shrimp in the country. Total value was USD 6.6 billion, the same as in the COVID-19 year (2020), and USD 1.7 billion less than the 2022 import value.

The main supplying country was India, followed by Ecuador; these two countries alone account for over half of US shrimp imports. Their combined supply was more or less stable in 2023 when compared with 2022, while major declines were experienced by the smaller suppliers such as Indonesia, Viet Nam, Thailand and Mexico.

Prices of imported shrimp went down in 2023, with the average price being USD 8.45 per kg, well below the USD 9.85 per kg level seen in 2022. Indian and Ecuadorian prices were below this average price level: India at USD 8.19 per kg and Ecuador at USD 7.03 per kg.

Graph 1: Unit value of shrimp imports into the United States, in USD per kg

Source: calculated based on Global Trade Tracker, 2024