Seafood exports accelerate in the first 9 months: Opportunities and challenges intertwined

Shrimp and pangasius continue to play a leading role

In the product structure, shrimp remains the "champion," generating nearly $410 million in September, pushing the nine-month export value to over $3.38 billion, a remarkable increase of 20.3%. The main growth drivers are stable demand from the U.S, Japan and the EU, alongside rising orders from regional markets.

Pangasius also made a strong mark with export turnover in September reaching nearly $191 million, up 11%. By the end of September, pangasius exports totaled over $1.6 billion, an increase of almost 10% year-on-year. The resurgence of demand in China, the U.S and several Middle Eastern markets has helped reinforce Vietnam’s position on the global seafood map.

Meanwhile, marine fish and the squid-octopus group experienced robust growth. Over 9 months, other marine fish reached $1.61 billion (+18.5%), while squid-octopus hit nearly $550 million (+18.7%). Shelled mollusks stood out with a rise of over 30%, reaching $192 million. In contrast, tuna exports slightly declined to $705 million (-3.2%), reflecting intensifying competition in the oceanic fish segment.

Markets: China and South Korea surge, U.S. slows down

In terms of markets, China and Hong Kong remain standout performers. Despite a slight dip in September, the nine-month total still jumped 32.1% to $1.76 billion, claiming the largest market. This market is highly attractive due to strong demand and favorable logistics costs.

The U.S, on the other hand, showed signs of stagnation with exports in September down by more than 6%. However, over nine months, exports to the U.S still reached $1.41 billion, up 6.8%. Ongoing challenges such as Anti-dumping Duties and stringent requirements from the Marine Mammal Protection Act (MMPA) have posed significant hurdles for Vietnamese exporters to access this market.

Japan and the EU maintained steady growth: Japan hit $1.27 billion (+15.6%) and the EU reached $885 million (+13.3%). Notably, South Korea emerged as a breakout market, recording a nearly 50% surge in September and a 13% increase over nine months, totaling $645 million.

Additionally, ASEAN and the Middle East have emerged as promising "niche" markets. ASEAN recorded $536 million (+23.3%), while the Middle East reached nearly $295 million (+7.6%) with a remarkable 50%+ growth in September alone.

Seafood exports accelerate in the first nine months: Opportunities and challenges intertwined

Flexibly seizing opportunities

Behind these impressive results is the flexibility of businesses in boosting exports and taking advantage of the period before certain tax policies and technical barriers take effect. Many companies have proactively restructured their markets, increasing exports to Asia while strengthening their positions in traditional markets.

Additionally, the growing investment in value-added processed products that meet stringent quality, safety and traceability requirements has helped Vietnamese seafood maintain its competitiveness, particularly in mid and high-end segments.

Mounting challenges

However, the road ahead remains obstacles. Vietnam’s seafood industry faces several barriers:

- Anti-dumping and countervailing duties in the U.S and other markets have narrowed profit margins.

- The Marine Mammal Protection Act (MMPA) imposes strict regulations on harvesting, creating significant pressure on seafood products.

- The EU’s IUU yellow card remains unresolved, impacting the reputation and export costs of Vietnamese businesses.

- Competiton from regional rivals such as India, Thailand, Indonesia and Ecuador, particularly in shrimp and pangasius, poses a growing threat.

Need for proactivity and innovation

To sustain growth, experts suggest the seafood sector should focus on three key strategies:

1. Closely monitor market trends and trade policies to adjust strategies promptly and mitigate risks from new barriers.

2. Restructure export market: While maintaining traditional markets like the U.S, EU and Japan, businesses should capitalize on opportunities in ASEAN, the Middle East and less competitive niche markets.

3. Diversify products and enhance value addition: This is critical for sustainable competition, especially as global consumers increasingly prioritize high-quality, sustainable and safe products.

Furthermore, the industry needs to embrace innovation, apply technology in aquaculture and processing and strengthen the national brand through premium culinary channels and e-commerce platforms.

In summary, in the first 9 months of 2025, Vietnam’s seafood exports surpassed $8.3 billion, marking significant achievements. However, amidst trade barriers and fierce competition, proactivity, flexibility and innovation will remain the key to sustaining these gains and expanding opportunities in international markets moving forward.