The US economy is unstable, gasoline and electricity prices have “cooled down”, but food prices are still high. The US consumers, especially the low-income class, had to change their diets and food purchase channels. There has been a trend that many consumers consider choosing chicken, beef or pork instead of seafood. Grocery stores with discount programs often have better sales than large supermarket channels. More and more people are choosing to buy home-cooked food to save money.
Any changes from the largest market has strongly affected the results of Vietnam's seafood export and the business situation of many enterprises. With $283 million, down 51% in the first quarter, the US is no longer Vietnam's No. 1 seafood market.
Japan has surpassed the US to become the largest import market of Vietnamese seafood
Japan has surpassed the US to become the largest import market of Vietnamese seafood, although exports to this market decreased by 7%, reaching over 322 million USD in the first quarter of 2023. The structure of seafood exports to Japan is leaning more towards seafood products such as squid, scad, pollock, tuna, grouper.
Japan is Vietnam's largest marine products consumption market, mainly in the marine fish segment, in which a significant part of raw fish is imported from Japan to Vietnam, processed and re-exported to this country. Therefore, seafood exports to Japan increased by 10% while the export of seafood products to other major markets such as the US, Korea and China, the EU all decreased by 6% - 45%.
Many enterprises are expecting the opening of the Chinese market will boost imports, offsetting the decline of other major markets. In the first two months of 2023, China's seafood imports from other countries increased by 32%, reaching over 560 thousand tons, with a value of over $2.7 billion, up 20%. Thus, consumption demand is clearly increasing, but the decrease in import prices to this market has affected sales of Vietnam’s seafood. Particularly for pangasius, in the first 2 months of 2023, China imported 18.4 thousand tons with an average price of 2.15 USD/kg, down 7% compared to the same period in 2022.
Therefore, by the end of the first quarter of 2023, Vietnam’s seafood exports to this market were still 27% lower than the same period last year.
The EU market also decreased by 29% in the value of seafood imports from Vietnam in the first quarter, reaching only 210 million USD. Exports of shrimp and seafood products to the EU all decreased by 7-50%. Exports of pangasius were more stable, thanks to increased exports to the German market.
Exports to the top 5 largest markets in the EU including Germany, the Netherlands, Belgium, Italy and Spain all decreased by 4-44% over the same period. However, many small markets, especially countries in Eastern Europe, still increase imports of Vietnamese seafood, especially pangasius products. Specifically, seafood exports to Poland increased by 49%, to Lithuania by 29%, to Finland by nearly 4 times, and to Romania by 17%.
In the first quarter of 2023, most shrimp and pangasius exporters experienced a sharp decline in export value due to market difficulties and the pressure of too high input costs; rising feed prices, fish prices lead to high raw material prices. In particular, businesses whose traditional and main market is the US are affected the most.
Seafood processing and exporting enterprises also face difficulties because of the lack of domestic raw materials and more difficulties in the EU market, so many businesses experience a decrease in sales. However, some enterprises still have higher revenue compared to the same period last year thanks to the promotion of processing of wild-caught marine products, especially marine fishes.
The picture of seafood exports may gradually brighten in the second quarter and is expected to recover better from the third quarter when the Chinese market has a clearer improvement and seafood enterprises have adjusted their product structure and the market to adapt to the context of 2023.
Compiled by Thuy Linh
(seafood.vasep.com.vn) In 2025, Vietnam’s tuna exports to Spain increased by 13% compared to 2024. This growth trend has continued into the first two months of 2026. According to Vietnam Customs statistics, export turnover to this market reached nearly USD 3 million in January–February 2026, up 101% year-on-year and significantly higher than the same period in 2024. This development indicates that Spain is once again becoming a notable destination for Vietnamese tuna amid strong demand for tuna raw materials and products in Europe.
(seafood.vasep.com.vn) The 2026 brackish water shrimp farming season in the Mekong Delta has started earlier than usual, mainly driven by positive market signals, as shrimp prices in 2025 remained high and supply was limited. Many enterprises and farms in Cần Thơ, Cà Mau, and Vĩnh Long have proactively stocked early to seize opportunities. By early 2026, stocking areas in many localities had reached a high proportion of planned targets, with intensive and high-tech farming models expanding rapidly.
(vasep.com.vn) Vietnam’s tilapia exports to the United States recorded remarkable growth in 2025, opening up major opportunities while also presenting considerable challenges. The U.S. remains the largest importer of Vietnamese tilapia fillets, with export turnover reaching USD 40 million—an increase of up to 499% compared to 2024. This impressive growth reflects strong demand in the U.S. market, as supply from competing countries such as China has been constrained by tariffs and rising production costs.
(seafood.vasep.com.vn) Pangasius remains a strategic export commodity in Vietnam’s seafood sector. Entering 2026, the industry faces a strong need to transition from volume-based growth to a value-driven development model, with a focus on quality, food safety, and sustainability.
(seafood.vasep.com.vn) Following damage caused by Storm No. 13 in late 2025, brackish water shrimp farming in Gia Lai is being rapidly restored. In key farming areas such as Tuy Phước and Tuy Phước Đông, farmers are focusing on rehabilitating ponds, repairing infrastructure, and treating the environment in preparation for the 2026 crop.
(seafood.vasep.com) Facing the decline in fishery resources, Vietnam is accelerating livelihood transitions for fishermen to reduce fishing pressure and move toward sustainable development. Marine fish stocks have dropped significantly from 4.82 million tons in 2000–2005 to 3.95 million tons in 2016–2020.
(seafood.vasep.com.vn) Vietnam’s shrimp industry is entering a period of strong transformation with the emergence of various high-tech farming models, helping improve productivity and competitiveness. Over the past 5–10 years, farming practices have shifted from traditional methods to intensive and super-intensive systems, featuring lined ponds, environmental sensors, automated feeding, and data management.
(seafood.vasep.com.vn) With a focus on sustainable development, high-tech application, and climate change adaptation, An Giang Province aims to maintain its brackish water shrimp production in 2026 at a level equivalent to the previous year. Specifically, output is projected to reach over 155,510 tons, serving both domestic consumption and export processing, thereby sustaining the fisheries sector’s key role in the local economic structure.
(seafood.vasep.com.vn) In the Mekong Delta, key pangasius farming provinces such as An Giang, Dong Thap, and Can Tho are accelerating the transition toward a circular economy model, contributing to higher product value and reduced environmental impact. Instead of focusing solely on farming and processing, the pangasius value chain is increasingly utilizing by-products and waste streams to generate added value.
(vasep.com.vn) Vietnam’s scallop exports are entering a phase of impressive growth, as the global market undergoes significant restructuring. In 2025, scallop export value reached nearly USD 66 million, up 49% from USD 44 million in 2024. This upward momentum has continued and accelerated into early 2026, with exports totaling USD 18.1 million in the first two months alone—an increase of 166% year-on-year. This represents an exceptionally high growth rate, reflecting the rapid expansion of a relatively new product segment within Vietnam’s mollusk export portfolio.
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