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) On November 11, 2026, in Can Tho, the Vietnam Association of Seafood Exporters and Producers (VASEP) will organize the Vietnam Seafood Summit 2026 (VSS 2026) under the theme “Seafood Market Outlook 2027–2029: Opportunities and Headroom for Double-Digit Export Growth.”
(seafood.vasep.com.vn) Business leader Do Ngoc Tai, General Director of Tai Kim Anh Seafood Processing Joint Stock Company, was honored by the Vietnam Chamber of Commerce and Industry (VCCI) with the title “Outstanding Vietnamese Entrepreneur – Thanh Giong Cup 2026” at a ceremony celebrating Vietnam Entrepreneurs’ Day (October 13). The event took place on the evening of October 11, 2026, at the National Convention Center in Hanoi.
(vasep.com.vn) The global tilapia market is becoming increasingly segmented, not only among producing countries but also by product type and destination market. Supply is divided into groups with distinct competitive advantages: large volumes of whole fish and frozen fillets from Asia, high-value fresh fillets from Latin America, and substantial domestic consumption in several major producing countries.
(vasep.com.vn) Vietnam’s tuna exports to the UK grew in the first eight months of 2026, despite signs of slowing import demand in the market. However, sharp fluctuations in orders, competition from major suppliers, and new traceability requirements are creating challenges for Vietnamese exporters.
(seafood.vasep.com.vn) Vietnam is stepping up efforts to combat illegal fishing, protect marine ecosystems, expand digital monitoring, and develop science-based management to ensure the sea can support communities and the economy for generations to come.
(seafood.vasep.com.vn) The EU remains a critical market for Vietnamese shrimp; however, purchasing demand and import patterns are undergoing notable changes. According to Vietnam Customs data, as of September 15, 2026, Vietnam’s shrimp exports to the EU reached nearly $374 million, down 5% year-over-year and accounting for 10.7% of the country’s total shrimp export value. Meanwhile, the EU’s stotal shrimp imports through July 2026 contracted by 7% in volume, exhibiting divergent trends across Southern Europe, Northwestern Europe and Eastern Europe. These dynamics necessitate that Vietnamese enterprises closely monitor individualized market demand, rather than approaching the EU as a monolithic consumer block.
(seafood.vasep.com.vn) In the first eight months of 2026, Vietnam’s exports of surimi and fish cakes remained relatively stable year-over-year compared to 2025. Following a contraction in the initial months, export performance demonstrated improvement from June onward, peaking in August. However, the recovery has been uneven, characterized by divergent trends across major markets: robust growth was recorded in China, Japan, Malaysia, the United States, and Taiwan, whereas export volumes to South Korea, Indonesia, and select European markets contracted.
(seafood.vasep.com.vn) Pangasius remains one of Dong Thap’s key aquaculture species, with the province focusing on developing an integrated value chain covering seed production, commercial farming, deep processing and by-product utilization. The province is promoting high-tech, circular pangasius farming models featuring reduced water exchange and enhanced biosecurity, aiming to improve production efficiency and strengthen control over raw material quality.
(vasep.com.vn) Vietnam’s seafood exports in September 2026 are estimated at US$1.135 billion, up 11.9% year-on-year, bringing total exports in the first nine months of the year to US$9.103 billion, up 11.4%. Behind this double-digit growth, however, increasingly divergent market trends are emerging: China–Hong Kong and ASEAN posted strong growth, while the U.S., EU and Japan all recorded declines in September.
(vasep.com.vn) In the first eight months of 2026, Brazil became the largest market for Vietnamese tilapia, with export value reaching US$44 million, up 22,142% year-on-year and accounting for 49% of Vietnam’s total tilapia exports. In August alone, exports to Brazil reached US$4 million. However, behind this remarkable growth is a market that is imposing increasingly stringent requirements on imported supplies.
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