Vietnamese shrimp exports to China and Hong Kong continue to decrease by 24% of proportion, reaching 52 million USD in November 2023. The demand for China and HK is unstable, growing positively for 3 months from June to August, then returning to a downward trend in September, October, and November. However, the decline is not as strong as in the first months of the year. China and Hong Kong are the markets with the lowest decline among the main import markets.
The demand for Vietnamese shrimp from the Chinese and Hong Kong markets not only depends on economic growth and inventory in China and HK but also heavily depends on cheap supply from Ecuador. China's demand for shrimp imports is still increasing strongly, but because there are too many supplies "rushing" to China and Hong Kong at low prices, it is difficult for Vietnamese shrimp to compete on price. In the last month of this year, Vietnamese shrimp exports to China and Hong Kong are expected to still decrease compared to the same period.
Vietnamese shrimp exports to China and Hong Kong fluctuated from 543 million USD in 2019 to 664 million USD in 2022. In the past 5 years, shrimp exports to China and Hong Kong have fluctuated, but in China and the Hong Kong market remain that Vietnam is the third-largest shrimp importer after the US and Japan. Although shrimp exports to China and Hong Kong markets in 2023 will decrease compared to 2022 (the year when shrimp export turnover reached a record), they will still increase compared to previous years.
Potential market but fierce competition
The COVID-19 epidemic has ended, China's economy has shown positive signs, and demand for giant tiger shrimp and whiteleg shrimp is recovering. The geographical position is favorable for Vietnamese businesses exporting to China in terms of logistics costs.
China is promoting economic recovery, but it seems they do not spend much on domestic seafood production. Because China does not consider this a key industry with high profits. Therefore, this is an opportunity for Vietnam to increase exports to the market.
Economic experts assess that China will increasingly depend on imported seafood, similar to the model of Western countries.
China's shrimp consumption is large, even more than in the US and Europe. In 2023, it is estimated that China will import a huge amount of shrimp, up to 1 million tons, mainly for processing and domestic consumption, with almost negligible exports.
The Chinese Ambassador affirmed that the country is ready to expand imports of Vietnamese aquatic and agricultural products. The above statement was made in the context of Chinese President Xi Jinping's recent visit to Vietnam, opening up many bright prospects for trade cooperation between the two countries. China is the target market of many shrimp exporting countries, such as Ecuador and India, with a supply of cheap raw shrimp, so Vietnamese shrimp are under competitive price pressure. Besides, businesses also have to face competition from shrimp processors in the Chinese domestic market.
To take advantage of opportunities from China, B2B trade activities need to be further enhanced, and local-level trade needs to be given more attention. In addition, there needs to be an exchange and sharing of information about market needs and regulations, especially when there are changes in import and export policies.
(seafood.vasep.com.vn) Seafood exports are holding double-digit growth, but the opportunities are not spread evenly across product groups and markets. As businesses draw up their plans for 2027, Vietnam Seafood Summit 2026 (VSS2026) offers a chance to look ahead together: what to sell, where to sell it, and how to prepare for growth in the coming years.
(seafood.vasep.com.vn) With less than two weeks to go, the Vietnam Seafood Summit 2026 (VSS 2026) will officially take place in Can Tho. Under the theme “Seafood Market Outlook 2027–2029 – Opportunities and Potential for Double-Digit Export Growth,” the Summit is organized by VASEP at a time when seafood businesses are facing rapid market shifts, changing buyer demand, trade policy changes and growing competitive pressure all at once.
(seafood.vasep.com.vn) On October 28, 2026, the China Fisheries & Seafood Expo opened in Qingdao, China. The expo takes place over three days from October 28 to 30, 2026. This is a prestigious specialized seafood exhibition organized annually by Sea Fare Exposition Inc.
(vasep.com.vn) In the first nine months of 2026, Vietnam’s tilapia exports to the CPTPP bloc reached $7 million, marking a 51% year-on-year increase. The bloc rstands as the fourth-largest market for Vietnamese tilapia, trailing Brazil, the US, and Saudi Arabia.
(vasep.com.vn) VASEP has officially announced the program for Vietnam Seafood Summit 2026 (VSS 2026), featuring five in-depth sessions covering industry outlooks, trade barriers, buyer demand, the domestic market, and solutions to improve productivity and reduce costs across the seafood value chain.
(vasep.com.vn) Vietnam’s shrimp exports reached US$3.7 billion in the first nine months of 2026, up 11% year on year. Although growth has been supported by China and several markets within the CPTPP, momentum is slowing as exports to the United States and the European Union decline. Tariff pressures, international competition, and raw material challenges are creating significant hurdles for exporters in the final months of the year.
(vasep.com.vn) Markets are changing faster, buyer requirements are becoming more demanding, and trade barriers are growing increasingly complex. In this environment, seafood businesses need more than an understanding of current market conditions. They need a longer-term perspective to answer a critical question: Where will growth opportunities come from in 2027–2029, and what should businesses do now to prepare? This is one of the key reasons why VASEP is organizing Vietnam Seafood Summit 2026.
(vasep.com.vn) In the first eight months of 2026, Vietnam’s pangasius exports to the Middle East reached US$113 million, up 7% year on year from the same period in 2025. Growth has become more pronounced in recent months. In August alone, exports to the region totaled US$20 million, an increase of 24%. This indicates that demand for Vietnamese pangasius in the Middle East is gradually recovering after a slowdown in March, although the pace of recovery varies across markets.
(vasep.com.vn) China’s shrimp imports continued to grow strongly in 2026, while Vietnam’s shrimp exports to the market also recorded notable growth. However, behind these positive figures lie two distinct trends: Chinese consumption is growing more slowly than imports, and lobster accounts for a substantial share of Vietnam’s shrimp exports to China, making its product mix significantly different from those of Ecuador and India. Exporters therefore need to assess each segment carefully to understand the opportunities and risks.
(vasep.com.vn) Changing markets, shifting buyer demand, and increasingly complex trade barriers are raising a key question for Vietnam’s seafood industry: Where will the new growth opportunities lie in 2027–2029?
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