From 2019 to 2023, seafood products, including pangasius, was among the top five exports from Vietnam to the US, alongside electronics, textiles, wood products, steel, and plastics. The US has consistently been one of the largest importers of Vietnamese seafood, especially pangasius. Therefore, the election of a new US president, accompanied by new policies, will significantly impact the future strategies of export companies.
Vietnamese seafood products have long been popular in the US market. Vietnam's annual seafood exports reach about $10 billion, with approximately 1.4-1.5 billion USD coming from exports to the US. Notably, Vietnamese pangasius is highly sought after, with the US. being its second-largest importer globally, after China. In 2022 and 2023, pangasius exports from Vietnam reached over 2.4 billion USD and 1.8 billion USD, respectively. Exports to the US during these years amounted to 527 million USD (22% share) and 271 million USD (15% share), respectively. Moreover, recent data from the International Trade Center (ITC) reveals that from February to August 2024, frozen pangasius fillets surpassed frozen tilapia fillets to become the most consumed whitefish product in the US, reflecting a consistent demand for Vietnamese pangasius.
Previously, according to the preliminary results of the 20th administrative review (POR 20), two mandatory respondent companies received an anti-dumping duty rate of $0.00/kg, while six other companies enjoyed for a separate rate of $0.00/kg. These preliminary results are positive for Vietnamese pangasius exporters, with all eight companies under review achieving a zero-duty rate, a decrease from the previous POR 19 rate, which ranged from $0.00/kg to $0.18/kg.
The impact of Trump's policies on Vietnam's pangasius export industry will be twofold. With his “America First” agenda, an increase in import tariffs by 10-20% on all countries, including Vietnam, could reduce the competitiveness of Vietnamese products compared to American domestic goods. On the other hand, if China faces higher tariffs, it could create opportunities for Vietnamese firms to export to the U.S. and gain a larger market share.
According to data from Vietnam Customs, in the first half of October 2024, Vietnam's pangasius exports to the US reached 19 million USD, an 89% increase compared to the same period last year. Cumulatively, exports to the U.S. up to October 15, 2024, amounted to 275 million USD, a 27% increase from the same period in 2023.
In the first nine months of this year, frozen fillets under HS code 0304 remained the primary pangasius product imported by the US from Vietnam, with a value of 245 million USD - up 21% year-over-year and accounting for 96% of the total share.
In contrast to the previous quarter, Q3/2024 saw a positive turnaround in the export of dried and other frozen pangasius products (whole fish, cut portions, fish bladders, etc.) to the US, with a value exceeding 1.3 million USD, marking a 76% year-over-year growth. Exports of these products reached over 3.2 million USD in the first nine months of 2024, increasing by 3% year-over-year and accounting for 1% of the total share.
Notably, in the first nine months of this year, value-added pangasius products exported to the US continued to record impressive growth, with nearly 8 million USD in value - an increase of 1,666% compared to the same period last year, accounting for 3% of the total pangasius export value to the US.
(seafood.vasep.com.vn) The first two months of 2025 recorded positive signals in Vietnam's seafood export activities, with total revenue reaching USD 1.423 billion, growing 18.2% compared to the same period in 2024. In February 2025, the export value hit USD 655.197 million, showing an impressive growth of 42.6%.
(seafood.vasep.com.vn) Kiên Giang Province, home to over 13,000 fishing vessels, is intensifying efforts to combat illegal, unreported, and unregulated (IUU) fishing. Faced with challenges from offshore fishing, many vessels have shifted to near-shore fishing using destructive methods, severely damaging marine ecosystems.
(seafood.vasep.com.vn) Vinh Hoan Corporation (HOSE: VHC) continues to solidify its position as the leader in Vietnam's pangasius export industry with impressive business results in 2024 and positive prospects for 2025. Factors supporting growth, such as recovering demand, improved selling prices, and favorable international trade policies, make Vinh Hoan one of the top stocks to watch in investment portfolios for 2025.
Amid global trade uncertainties, Việt Nam is prioritising compliance with international market requirements to maintain and expand its agricultural exports.
On February 26, 2025, VinFast and the Vietnam Association of Seafood Exporters and Producers (VASEP) signed a comprehensive cooperation agreement to strongly promote green transformation goals. The collaboration between the two parties will contribute to the realization of the country’s sustainable development goals and help elevate the Vietnamese brand on the international market.
(seafood.vasep.com.vn) In 2024, the total brackish water shrimp farming area in Ca Mau reached 278,600 hectares, with a shrimp output of 242,000 tons. This output achieved 99.59% of the set target and marked a 4.57% increase compared to the same period last year. The average shrimp yield attained 869 kilograms per hectare per year, representing a 38 kilograms per hectare per year increase compared to 2023. Shrimp export turnover reached USD 1.12 billion, positioning Ca Mau amongst the nation's leading localities in this sector.
(seafood.vasep.com.vn) In 2024, Ben Tre province expanded its high-technology application in aquaculture by an additional 523 hectares, surpassing the planned target of 500 hectares and achieving a fulfillment rate of 104.6%. To date, the province has converted 3,633 hectares to high-tech aquaculture out of the 4,000-hectare goal, representing 90.82% progress towards the 2021-2025 phase plan. This sector yields an average productivity of 60-70 tons per hectare, with a total output reaching 221,282 tons. The average profit margin ranges from VND 700 to 800 million per farming season, delivering substantial economic benefits to the local populace.
(seafood.vasep.com.vn) In 2025 In 2025, Vietnam's brackish water shrimp industry will continue to grow sustainably, enhancing value-added products with strong contributions from local authorities and the business community.
(seafood.vasep.com.vn) In January 2025, the country's total seafood output was estimated at 594,100 tons, a 0.7% increase compared to the same period last year. Specifically, fish production reached 443,400 tons, up 0.7%; shrimp output was 56,300 tons, up 3.1%; and other seafood products totaled 94,400 tons, down 0.9%.
(seafood.vasep.com.vn) The industrial pangasius production in Vinh Long province in 2024 reached 95,100 tons, a 4% decrease compared to 2023. Despite the decline in production, positive trends in the final months of the year offer hope for improving economic efficiency in the near future. Additionally, the increase in the area for industrial pangasius farming and the maintenance of overall aquaculture area demonstrate the province’s efforts to sustain its production activities.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn
