According to the latest figures released by the National Chamber of Aquaculture of Ecuador (CNA), Ecuadorian shrimp exports in January 2025 increased by 35% compared to the same period last year, reaching a total of 102,145 tons.

This export value also increased significantly, increasing by more than 26% compared to the same period last year to USD 544.5 million, indicating a positive start to the year for Ecuador's shrimp industry. The average export price of Ecuadorian shrimp also increased from USD 4.84/kg in January 2024 to USD 5.33/kg in January 2025.

China remains the dominant market, importing 58,191 tons of Ecuadorian shrimp worth USD 281.4 million. This figure increased by 15% in volume and 25% in value compared to the previous year.

The average export value of Ecuadorian shrimp exported to China was $4.83/kg, up 9.03% year-on-year.

The United States ranked second in shrimp imports from Ecuador, purchasing 18,968 tonnes of Ecuadorian shrimp for $124.7 million, up 14% in volume and 25% in value, with an average price of $6.58/kg, also up 9.85% year-on-year.

Among European countries, France led the way in Ecuadorian shrimp purchases by volume with 4,272 tonnes, up an impressive 173.06%. Already a strong buyer, Spain saw a slight decrease in imports by 1.82% in volume, while Italy’s imports fell 26.19%.

Demand for Ecuadorian shrimp in Vietnam and Belgium increased sharply in January, with import volumes increasing by 136.36% and 163.44%, respectively. Meanwhile, Russia saw a sharp decline of 29.78% in import volumes, possibly due to economic constraints and geopolitical factors.

Ecuador exported less shrimp in both volume and value year-over-year in 2024, with a large drop in shipments to China.

According to CNA, Ecuador exported 2.67 billion pounds of farmed shrimp in 2024, bringing in $6.07 billion, down 0.2% and 3.5%, respectively, from 2023.

Ecuadorian shrimp shipments to China, the South American country’s largest market, fell 13.9% in value to $3.01 billion compared to 2023, and fell 8.2% in volume to 1.45 billion pounds. China bought 58.9% of Ecuadorian shrimp by volume in 2023; to 54.2% by 2024.

China - An Important but Risky Market

China became Ecuador's largest customer in 2019, playing a key role in the consumption of the South American country's shrimp exports. Thanks to high demand and large purchasing power, China quickly dominated Ecuador's shrimp export structure.

However, this also comes with great risks, as the Chinese economy is facing many difficulties, especially the downturn in the real estate sector, causing consumer spending to shrink.

The dependence on a single market makes Ecuador's shrimp industry vulnerable to economic fluctuations and China's trade policies. When exports to China decreased last year, the Ecuadorian shrimp industry faced significant challenges, forcing businesses to look for solutions to minimize risks.

Diversifying markets

Realizing the dangers of depending on a single market, Ecuadorian shrimp producers have begun to look for alternative markets. Several other countries such as the US, Europe and the Middle East are emerging as potential destinations for Ecuadorian shrimp exports.

However, penetrating new markets is not easy. Each region has strict requirements on quality, quarantine and food safety certification. While China tends to import raw shrimp in large volumes, Western markets prioritize processed products with higher added value. Therefore, Ecuadorian businesses need to invest in processing technology and improve product quality to meet the standards of new markets.

Long-term strategy of Ecuadorian shrimp industry

To ensure sustainable development, Ecuadorian shrimp industry has long-term strategies to minimize risks from fluctuations in the Chinese market.

Developing a sustainable supply chain: Applying ecological shrimp farming models, minimizing environmental impacts and meeting international standards to attract Western consumers.

Investing in processing technology: Increasing processing capacity, expanding product portfolio such as peeled shrimp, seasoned shrimp, convenient frozen shrimp to meet the needs of high-end markets.

Diversifying distribution channels: Instead of relying solely on large importers, Ecuador can promote e-commerce, cooperate with supermarket chains and restaurants to reach consumers directly.

Shrimp production in Ecuador is expected to increase by 3-4% by 2025. Ecuador's shrimp production increased by an average of 14% from 2010 to 2023, with the rate slowing to 4% in 2024.

Source: VASEP