The impact of inflation and the global economic recession caused the import demand of cephalopods from major consuming markets around the world to fall.
Cephalopods exporters continue to face many difficulties in terms of raw materials and high input costs. The Russia-Ukraine conflict disturbs global trade, and the high price of gasoline makes the cost of fishing trips difficult for fishermen. In addition, the IUU yellow card that has not been removed is still a challenge for cephalopods exports.
In the structure of exported cephalopod products, squid accounted for 54.4%, octopus accounted for 45.6%. In the first quarter of 2023, the value of squid exports decreased by 12%, octopus exports decreased by 11% compared to the same period in 2022.
In the first quarter of 2023, Vietnam's cephalopod products were exported to 43 markets, a decrease compared to 47 markets of the same period in 2022.
The top 10 largest import markets of Vietnam's this product include South Korea, Japan, Thailand, China & HK, Italy, Malaysia, Spain, France, the Philippines, and Taiwan, accounting for 91% of the total cephalopod exports.
Japan, Thailand, and South South South South Korea are the 3 largest squid import markets of Vietnam, accounting for 25.2%; 17.4% and 16.2% respectively. Squid exports to Japan in the first quarter of 2023 increased by 12% while to Thailand and South Korea decreased by 10% and 3% respectively.
South Korea, Japan and the US are the three largest Vietnamese octopus importers, accounting for 59.4%; 29.2%; 2.2% respectively. Octopus exports to these three markets all decreased in the first quarter of 2023.
South Korea is still the largest import market of Vietnam's cephalopods, contributing 36% to the total export value. In the first quarter of 2023, the export of cephalopods to South Korea reached nearly 50 million USD, down 10% compared to the same period in 2022.
Octopus is Vietnam's main export product to this market, accounting for 75.7%, squid only occupied a small proportion of 24.3%. In which, frozen octopus products account for 71% of the total export value of cephalopods products. Processed octopus recorded good export results with a growth of 73% in this period.
South Korea mainly imports from Vietnam frozen octopus cut, cleaned and frozen whole octopus, dried peeled squid, and frozen squid .
Japan is the second largest single octopus importer of Vietnam, accounting for 27%. Compared to the South Korean market, Vietnam's cephalopods exports to Japan have more positive signals. In the first quarter of 2023, exports to this market reached 37 million USD, up 4% over the same period in 2022.
Japan's domestic production of cephalopods has been decreasing while Japan's demand has increased for instant, convenient products due to modern, busy lifestyles and little cooking time. This will positively affect Vietnam's cephalopod exports to Japan.
In the structure of Vietnam's squid and octopus products exported to Japan, the proportion of squid and octopus exports is almost the same when squid accounts for 49.3% and octopus accounts for 50.7%.
In the first quarter of 2023, octopus exports to Japan increased by 12% while squid exports decreased slightly by 3%. Notably, the export of processed squid increased by 41% to 2 million USD; however, dried, grilled squid dropped sharply by 100%.
Compiled by Thuy Linh
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(seafood.vasep.com.vn) During peak heat periods, farmers raising pangasius, tilapia, and other freshwater fish in Dong Thap are implementing various technical measures to reduce risks and maintain stable production.
(seafood.vasep.com.vn) Japan continues to be one of Vietnam’s most important and stable shrimp markets. In recent years, shrimp exports to this market have fluctuated in line with Japan’s broader economic and consumption cycles, yet Japan remains a major, high-value destination with stringent standards.
(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.
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(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.
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(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.
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