Shrimp exports to main markets simultaneously decreased by double digits in March this year. In which, exports to Japan and South Korea decreased by around 20%, exports to the US, EU, and China decreased by about 40%.
In the structure of shrimp exports, the export value of whiteleg shrimp reached US$451 million (accounting for 75.2%), down 38% over the same period. The export value of black tiger shrimp reached $83 million, down 34% while other shrimp exports reached $65 million, down 34%.
Japan is Vietnam's largest shrimp import market, accounting for 17.6%. In the first quarter of 2023, shrimp exports to this market reached more than US$105 million, down 29% over the same period. Japan's shrimp import demand this year is expected to remain stable. Japan is the target market of many businesses this year thanks to stable demand, low inflation, better profit margins due to the high proportion of refined and mixed goods.
Shrimp exports to main markets simultaneously decreased by double digits in March this year
In the first quarter of 2023, Vietnam's shrimp exports to the US reached more than US$104 million, down 46% over the same period. Record inflation, reduced purchasing power, and high inventories from 2022 are all factors that reduce the demand for shrimp imports into the US. The situation of US shrimp imports from Vietnam depends a lot on the current inventory. If the situation is positive, import demand may recover after the second quarter of this year.
According to data from the US Department of Agriculture, by February 2023, shrimp imports to the US from Vietnam reached 6,322 tons, worth $66 million, down 44% in volume and 49% in value over the same period in 2022. The average price of shrimp imports from Vietnam in the first 2 months of 2023 decreased by 1 USD/kg over the same period last year from 11.4 USD/kg to 10.4 USD/kg. Two shrimp products with HS codes 1605211030 and 1605211020 are still the two most imported products into the US in the first period.
In the first quarter of this year, shrimp exports to the EU reached $89 million, down 44% over the same period. Shrimp exports to the EU in 2023 are forecast to be not positive due to the impact of the Russia-Ukraine war.
In the first half of 2023, Korea's shrimp imports will slow down due to economic difficulties, then recover. In the first quarter of this year, Vietnam's shrimp exports to South Korea reached $78 million, down 25% over the same period.
Vietnam's shrimp exports in 2023 will face challenges from inflation, the global economic downturn affecting the consumption of major markets. Besides, Vietnamese shrimp must compete directly with Ecuador and India in terms of price. Import demand is expected to recover from the second quarter thanks to the lower price trend.
Enterprises need to optimize costs, focus on developing added value, improve product quality, redirect the export of country-specific products such as shrimp-forest, shrimp-rice, and actively change products structure to meet the needs of each market segment, prepare raw materials and production capacity to keep pace when shrimp demand in the world market recovers.
In 2022, Vietnam's brackish water shrimp farming area reached about 747,000 hectares with an output of more than 1 million tons, an increase of 8.5% compared to 2021. In 2023, Vietnam's shrimp industry aims to reach 750,000 area ha with an output of more than 1 million tons of shrimp of all kinds and strives for an export turnover of approximately $4.3 billion.
Vietnam's shrimp industry still faces many difficulties and challenges in both input and output related to the supply of raw materials from seed quality, disease control, the ratio of area and production of shrimp farming qualified by GAP and organic certification standards is still low. The production cost of shrimp is still much higher than that of Ecuador and India. To achieve the set goals, the shrimp industry needs the support of the Government and ministries and sectors and the active participation of stakeholders in the shrimp value chain.
Compiled by Thuy Linh
(vasep.com.vn) Vietnam’s tuna exports sustained their upward trajectory in August 2026, though the pace remained modest at just 2%. The month saw divergent trends across key markets: the US maintained its leading position, Japan and Canada improved, Russia surged and the EU continued to experience a steep downturn. These developments suggest that exporters are entering the final months of the year amid a market environment marked by greater uncertainty.
(vasep.com.vn) Vietnam’s shrimp exports reached $3.3 billion in the first eight months of 2026, up 12% year on year. However, growth momentum is moderating and market divergece is becoming more pronounced, while the US and EU continue to present significant challenges. The latest insights from the Global shrimp forum 2026 (GSF 2026), held in early September, also indicate that the final months of the year will remain highly competitive as global supply continues to expand and buyers place greater emphasis on quality, product specifications, supply consistency and the ability to meet market-specific demand.
(vasep.com.vn) Vietnam’s pangasius exports continued to grow in August 2026, bringing total export value in the first eight months of the year to US$1.5 billion, up 10% year-on-year. August exports alone reached US$205 million, up 6%. However, market performance has become increasingly divergent, with China and Brazil posting positive growth while the U.S. continued to record a sharp decline.
(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.
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