After increasing by 44% in January and 62% in February, Vietnam seafood exports in March 2022 grew more slowly but sales were still significantly higher than in the first two months of the year.
By the end of March 2022, the total seafood export was estimated at 2.4 billion USD, up 40% compared to the same period last year.
The positive results are mainly due to the fact that pangasius export is still recovering strongly, increasing by 80% to reach 261 million USD in March with signs of rebounding demand in major markets such as the US, China, and the EU. By the end of March 2022, accumulated pangasius exports are estimated at 646 million USD, up 88% from the same period in 2021. Pangasius is regaining its position in the structure of export aquatic products, accounting for 27% of the seafood export value.
Shrimp still accounted for the highest proportion of export turnover in March, at 37%, equivalent to 345 million USD, which is up 21% from the same period last year. Total shrimp exports in the first quarter reached over $900 million, 37% higher than in the first quarter of 2021. The high demand for shrimp in the major markets along with an increase in the average export price are the factors that helped shrimp export turnover exceed the previous year.
The war in Ukraine directly affected the fishing industry because gasoline prices were so high that many fishermen let their ships lie ashore, or even sold their ships and gave up their jobs. The seafood processing industry, which is already facing difficulties in terms of raw materials, is in short supply. Therefore, marine product exports in March only kept a modest increase of less than 3% to reach 312 million USD, in which, exports of tuna and cephalopod still maintained a growth of 20%, but exports of other marine fish species decreased by 14%.
Total marine product exports in the first quarter were estimated at USD 878 million, up 20%, thanks to high growth in the first 2 months of the year, in which, tuna exports reached 234 million USD, up 55%; cephalopod exports increased 35% to 156 million USD. Exports of mollusk shells and crabs reached US$30 million and US$54 million, respectively, up 23% and 70% compared to the first quarter of 2021.
Vietnam seafood exports to major markets in March 2022 still maintained high growth. Exports to the US increased by 42%, to China by 77%, to the EU by 37%, to South Korea by 23%. However, exports to Japan are only proximate to those of March 2021.
The conflict between Russia and Ukraine obstructed seafood exports to Russia and Ukraine. Exports to Russia decreased by 86% in March to only $2.7 million, and exports to Ukraine were halted in March. In the first two months of the year, seafood exports to Ukraine still reached $4.5 million.
Although Russia accounts for less than 2% of Vietnam's seafood exports and Ukraine accounted for 0.3%, meaning the decrease in revenue in these two markets is not significant, the consequences of the war on the seafood industry are not significant because the increase in gasoline prices affects both production and export.
Seafood exports in April will continue to be affected by the Russia-Ukraine war, but still have growth momentum in major markets such as the US and EU, where trade activities and trade promotion have returned to the new normal. Vietnamese seafood enterprises are participating in international seafood fairs to connect and expand their customer base.
Therefore, it is forecasted that seafood exports in April will still grow by 25% to reach 934 million USD. Accordingly, the export of marine fish may decrease by 15%, but the export of pangasius will still increase by 80% and shrimp will increase by 20%, tuna by 18%, squid and octopus by 25%.
Compiled by Minh Trang
(vasep.com.vn) Vietnam’s seafood exports reached US$1.14 billion in August 2026, up 6.4% year on year, bringing the total for the first eight months to more than US$8.0 billion, an increase of 11.9%. Monthly export value remained above US$1 billion, but August growth was only around half the rate recorded cumulatively through the first eight months. This indicates that the eight-month result was supported significantly by stronger performance in earlier months, while market conditions are entering a less predictable period.
(seafood.vasep.com.vn) Pangasius is attracting growing interest from Japanese seafood companies as prices of many traditional whitefish species remain high and supply becomes increasingly volatile. Notably, seafood group Kyokuyo has recently continued to feature pangasius among its priority products, highlighting its competitive pricing and stable supply.
(seafood.vasep.com.vn) As Vietnam’s tilapia industry searches for new growth opportunities, venturing into brackish-water aquaculture could unlock a formidable competitive moat. Bypassing the volume-and-price bloodbath against established global heavyweights, Vietnam could differentiate itself through high-quality tilapia products tailored to specific farming conditions and value-added market segments.
(seafood.vasep.com.vn) 2026 is rapidly shaping up to be a formidable stress test for Vietnamese pangasius exports to the United States. While exports to alternative markets maintain a resilient growth trajectory, the U.S market has declined significantly. In the first eight months of the year, pangasius exports to the U.S fell by nearly 14% year-on-year, with August alone recording a decline of more than 50%. The trend shows that difficulties in the U.S. market are not driven solely by weak consumer demand, but also by multiple layers of trade barriers that are intensifying simultaneously, particularly additional import tariffs, anti-dumping duties and growing protectionism for the domestic catfish industry.
(vasep.com.vn) Vietnam’s pangasius exports to Japan are showing positive signals in 2026, indicating that the market is opening up greater opportunities for pangasius products, particularly processed and value-added products. In the first seven months of 2026, Vietnam’s pangasius exports to Japan reached US$31 million, up 20% year-on-year. In July alone, export value reached approximately US$5 million, up 30%.
On July 22, 2026, the Government issued Decree No. 292/2026/ND-CP detailing certain articles and providing measures for the organization and implementation of the Law on Foreign Trade Management. The Decree takes effect on September 5, 2026, replacing Decree No. 69/2018/ND-CP.
(vasep.com.vn) Vietnamese pangasius producer Vinh Hoan has won the top prize at the 2026 Seafood Excellence Asia Awards for its Cured Panga Croquette, highlighting the growing potential of value-added pangasius products in international markets.
(vasep.com.vn) The Global Shrimp Forum (GSF) 2026 is taking place from September 1–3 in Utrecht, the Netherlands, bringing together around 585 delegates from 40 countries, representing approximately 300 companies and organizations across the shrimp supply chain. Representatives from VASEP are attending the event as part of the Vietnamese delegation, strengthening connections with partners across the global shrimp industry.
(vasep.com.vn) At the international B2B seminar (Hosted Buyer Program) held as part of Vietfish 2026, Mr. Nguyen Hoang Pham, Sales Director of Tai Kim Anh Seafood Processing Joint Stock Company, delivered a presentation entitled “Vietnam’s Shrimp Industry: Changing for Sustainability.” From the perspective of a seafood processor, the presentation highlighted that Vietnam’s shrimp industry continues to play a leading role in seafood exports, but is entering a new phase of competition in which change is no longer an option, but a prerequisite for growth.
(seafood.vasep.com.vn) VIETFISH 2026 may have concluded after three dynamic days in Ho Chi Minh City, but conversations around the exhibition continue to resonate across international trade media, industry organizations, and the social media channels of participating companies.
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