In the first two months of 2023, Vietnam's pangasius exports decreased in both value and volume, with a decrease of 48% and 35% year-on-year, respectively. This downward trend is mainly due to the sudden drop in import demand, especially the US. The average selling price decreased by 14% over the same period in 2022 and by 50% from the peak set in the second quarter of 2022.
Enterprises that rely heavily on the US market such as Vinh Hoan and BIEN DONG Seafood have the largest decrease in export value in the first two months of the year, with -48% and -75% respectively over the same period in 2022.
In contrast, companies with a large distribution market share in China such as Navico, IDI, Godaco can take advantage of the recovery of this market to mitigate the impact, helping these enterprises to maintain the slighter fall in export value.
Navico is one of the export companies that can significantly benefit from the recovery of the Chinese economy
Navico is one of the export companies that can significantly benefit from the recovery of the Chinese economy. The increase in orders from the Chinese market will help Navico's pangasius export volume to grow again, thereby compensating for the declining trend in other markets.
Although Navico's profit in 2023 is better than the general situation of the industry, it will still be difficult to achieve positive growth due to the high base recorded in the same period in 2022.
Navico currently accounts for 15% of pangasius export value from Vietnam to China. The export price in the Chinese market is still relatively stable, the demand of this market is still high because it just opened after the prolonged Covid-19 lockdown. Navico intends to expand the customer base to boost orders in this market. Export volume to China is expected to grow by about 45% in 2023 and is the main growth driver for Navico.
In 2023, Navico is expected to reach VND 4,612 billion in net revenue and VND 619 billion in profit after tax, down 5.8% and 8.1% respectively compared to 2022.
Forecast on Vietnam pangasius industry in 2023 - 2025
Compiled by Thuy Linh
(seafood.vasep.com.vn) Currently, Da Nang City has no fishing vessels detained, sanctioned by foreign authorities, or criminally prosecuted for IUU fishing violations. Patrols, monitoring of marine fishing activities, and handling of violations have been prioritized by competent forces, significantly reducing nearshore fishing infringements.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam’s tuna exports to Israel in the first nine months of 2025 reached just over USD 27 million, down as much as 49% compared to the same period in 2024. This is a steep and prolonged decline for many consecutive months, reflecting changes in import demand as well as shifts in the supply structure of this market.
(seafood.vasep.com.vn) The first 700 tons of Vietnamese tilapia ordered and imported by JBS Group will initially be distributed through supermarket chains, the Horeca network and JBS’s product showrooms in Brazil.
(seafood.vasep.com.vn) In October 2025, Vietnam’s pangasius exports hit $217 million, representing an 8% increase compared to the same month in 2024. For the first 10 months of the year, total export value has surpassed $1.8 billion, up 9% year-on-year. This growth demonstrates clear positive momentum for the pangasius industry, despite continued declines in certain markets.
In recent days, the Central provinces of Vietnam have been suffering from historic flooding, with prolonged heavy rains, landslides, flash floods, and deep inundation causing extremely serious impacts on tens of thousands of households, as well as many VASEP member exporters located in the region. With the spirit of mutual support and solidarity, and in order to promptly assist residents and member exporters in the affected areas to stabilize their lives and restore production activities, VASEP calls on all seafood exporters, organizations, and individuals to extend supports to the people and member exporters in the flood-hit areas. We urge timely and practical material and spiritual contributions to help member exporters and local communities in the severely affected provinces overcome this difficult period.
(seafood.vasep.com.vn) In the final days of October 2025, Vietnam’s domestic raw shrimp market remained generally stable, though slight adjustments were recorded in several sizes across key farming regions.
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached USD 498 million in October 2025, up 26% from the same period last year. This is one of the highest monthly revenues since the beginning of the year, reflecting solid demand in major markets and faster shipment schedules by exporters. From January to October, shrimp export value reached USD 3.9 billion, up 22% compared to the same period in 2024.
(seafood.vasep.com.vn) On October 31, 2025, the US Court of International Trade (CIT) officially issued an order to suspend the case filed by the National Fisheries Institute (NFI), the National Restaurant Association (NRA), and several US seafood companies against the US Government concerning the implementation of the Marine Mammal Protection Act (MMPA).
(seafood.vasep.com.vn) An Giang’s fisheries sector has maintained stable growth momentum during the first nine months of 2025, making an important contribution to the province’s socio-economic development. Despite facing numerous challenges, the province is implementing various measures to enhance production efficiency, expand markets, and promote sustainable fisheries development toward deeper integration into the global economy.
(seafood.vasep.com.vn) Vietnam’s pangasius export value in September 2025 reached USD 181 million, up 5% compared to the same period in 2024. The overall trend for the pangasius industry remains positive, with total exports in the first nine months of 2025 reaching nearly USD 1.6 billion, an increase of 9% year-on-year.
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