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) Speaking at the Opening Ceremony of VIETFISH 2026 on August 19 at the Saigon Exhibition and Convention Center (SECC), U.S. Consul General Melissa Brown highlighted the important role of the exhibition in connecting Vietnam’s growing seafood industry with buyers, suppliers, and partners from the United States and around the world.
(vasep.com.vn) Tomorrow, August 19, 2026, the Vietnam International Seafood Exhibition – Vietfish 2026 will officially open at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City. Taking place over three days, from August 19–21, Vietfish 2026 promises to provide a dynamic platform for business networking, trend updates, product experiences and comprehensive cooperation across the domestic and international seafood community.
(vasep.com.vn) The global tilapia market continues to grow, creating significant opportunities for countries with strengths in aquaculture, processing, and exports. Against this backdrop, Vietnam’s tilapia industry is gradually developing toward higher quality, greater product diversification, and broader market reach. At Vietfish 2026, the Vietnam Association of Seafood Exporters and Producers (VASEP), together with the VASEP Tilapia Producers and Exporters Club, will host a joint booth to promote the image and potential of Vietnamese tilapia to domestic and international buyers.
(seafood.vasep.com.vn) Vietnam’s seafood exports are heading towards $12 billion this year, potentially the highest level on record. Yet one of the country’s export strengths is facing a growing list of challenges.
(seafood.vasep.com.vn) The first six months of 2026 indicate that Vietnam’s tilapia industry is entering a new phase of development, with strong export growth but also greater demands for production scale, quality and international competitiveness.
(seafood.vasep.com.vn) Vietfish 2026, the Vietnam International Seafood Exhibition, will officially take place from 19–21 August 2026 in Ho Chi Minh City. As Vietnam’s largest annual seafood trade event, organized by the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietfish 2026 will once again bring together leading seafood companies, industry experts, and international partners from across the global seafood value chain.
(seafood.vasep.com.vn) Vietnam’s seafood exports reached USD 1.1 billion in July 2026, up 4.8% compared to the same period in 2025. Cumulative exports in the first seven months of the year totaled nearly USD 6.86 billion, an increase of 11.5% year-on-year. Exceeding the USD 1 billion mark in July further reinforces the prospect that Vietnam’s seafood exports could surpass USD 12 billion in 2026. However, the July figures also send a clear signal that the most favorable growth period may have passed: overall export growth slowed to just 4.8%, pangasius exports fell 6.1%, tuna exports were virtually flat, while exports to the EU, South Korea, and the Middle East all recorded double-digit declines.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition (Vietfish 2026), the seminar "Global Seafood Market and the Future Workforce: Trends, Opportunities, and Sustainable Development Pathways for Vietnam's Seafood Industry" will take place from 2:00 p.m. to 4:15 p.m. on August 19, 2026, at Convention Room B, Level 2, SECC, Ho Chi Minh City. This is the first of five specialized seminars at Vietfish 2026, focusing on key issues that are shaping the long-term development of Vietnam's seafood industry.
(seafood.vasep.com.vn) Vietnamese seafood exports recorded impressive growth, generating nearly 6 billion USD in revenue during the first six months of the year, up 13% compared with the same period last year.
(seafood.vasep.com.vn) Fishermen in Ha Tinh are gradually overcoming difficulties to maintain the efficiency of seafood exploitation. In the first six months of 2026, the entire province achieved a production of more than 23,000 tons of seafood, worth more than 1,200 billion VND.
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