The EU used to be the largest pangasius import market of Vietnam with peak sales of 511 million USD in 2010, accounting for 36% of Vietnam's pangasius exports. Vietnamese pangasius also accounted for 22% of white fish’s market share imported into the EU at that time. Pangasius is actually considered a competitor to some of the other common white fish species in Europe
Since pangasius was added on the WWF’s red list in 2010, along with a smear media campaign in some European countries with articles and television programs that reflect falsely and negatively about the fish farming, Vietnam pangasius exports to this market dropped unprecedentedly. By 2021, pangasius exports to the EU reached just over 106 million USD, accounting for 7% of Vietnam’s total pangasius exports. In the EU whitefish import market, Vietnamese pangasius only accounted for 1.6% of the market share.
In 2020, the Vietnam - EU Free Trade Agreement (EVFTA) took effect from August 1, bringing a great opportunity for seafood exports to this market, including pangasius. Accordingly, pangasius products will receive tax reduction according to a 3-year roadmap. Particularly, the tax reduction route for smoked pangasius will be 7 years from the date of entry into force of the Agreement. Unfortunately, because of the Covid 19 pandemic, the advantage of tariffs did not promote an increase in pangasius exports to the EU in the 2nd period from 2020 to 2021. Social distancing and lockdown caused the food service segment - the largest consumption channel of pangasius fillet in Europe to be closed. The broken supply chain due to logistics stagnation, lack of shipping containers and sea freight 4-10 times higher than before the pandemic is a disadvantage for the pangasius industry because the price cannot compensate for the high cost.
In 2022, the demand of the markets exploded after 2 years of suppression, domestic production was not enough to meet. Especially in the context of the Russia-Ukraine conflict, which has led to a series of sanctions by countries against Russia's economy and trade. Since the Russian-Ukrainian war, the EU has issued 7 sanctions for Russian economic and trade, including a ban on Russian seafood imports, while Russia is the largest supplier of white fish to this market.
Direct imports from Russia account for 17% of the EU's cod, 19% of Alaska pollock and 19% of the country's haddock supply. Imports of Russian caught fish that have been reprocessed in China account for more than 11% of all cod, 3% of haddock and 37% of the EU's Alaska pollock supply.
Lack of raw white fish supply along with the record inflation in the EU create a great opportunity for Vietnam pangasius exporters. The EVFTA preferential tariff will promote more advantages for Vietnamese pangasius to the EU in 2022.
Vietnam pangasius exports to the EU recover and prosper in the first hafl of 2022
As of mid-July 2022, all markets in the EU have strongly increased imports of Vietnamese pangasius, the lowest growth rate is 25%, the highest increase is nearly 6 times over the same period last year. The top 5 largest markets in the bloc include the Netherlands, which increased by 72% and accounted for 30% of pangasius exports to the EU, Germany increased by 107%, accounting for 12%, Spain increased by 75% and accounted for nearly 10%, Belgium increased by 92% and accounted for 9.7% and Italy increased by 90% and accounted for nearly 8% of the share...
More than 93% of pangasius export value to the EU is frozen pangasius fillets (HS code 0304) with a value of 113.5 million USD, an increase of 94% over the same period. Frozen pangasius products (HS code 0303) account for about 4.4%, the rest is processed pangasius, accounting for 1.6%.
With market opportunities and advantages from the EVFTA, it is forecasted that pangasius exports to the EU in the second half of the year will continue to grow strongly and in the whole year 2022 will bring about 200 million USD in foreign currency, an increase of 90% compared to 2021.
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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