The two largest markets of this product, China and the US, both reduced imports by 22% and 64%, respectively. After a deep decline in January 2023, pangasius exports to China increased by 26% in February 2023, partly showing a positive signal in this market.
Exports to the US market have not recovered while exports to the EU also had a more positive signal thanks to the German market doubling imports of Vietnamese pangasius. Many other markets also suffered a drop of 12-61%.
Global food inflation along with high inventories has caused a fall in demand and import prices, which has negatively affected export sales of Vietnamese pangasius in many major markets.
In the first quarter of 2023, pangasius exports to the EU market reached 45 million USD, down 4% compared to the same period last year (46.7 million USD). Most markets in the EU increased imports of Vietnamese pangasius, of which many markets recorded double-digit growth, namely Romania (36%), Sweden (53%), Denmark (34%), Bulgaria (49%). Some smaller markets in Europe recorded positive 3-digit growth such as: Germany (100%), Lithuania (429%), Finland (436%).
Besides the EU, Vietnam's pangasius exports to some other markets in this period also grew positively such as: to Singapore reached US$8.7 million, up 35% over the same period last year, to the UK reached $16.2 million, up 34%. Although the UK has the highest inflation rate compared to other major economies, it is still among the few markets that have recorded positive growth in Vietnam's pangasius imports.
In the first quarter of 2023, most pangasius enterprises had to deal with negative growth compared to the same period last year. Top 5 largest pangasius exporters including Vinh Hoan, NAVICO, I.D.I Corp, Van Duc Tien Giang, GODACO, accounting for 34.9% of export turnover, all experienced a decrease in sales by 7-43%.
The seafood industry in general, and the pangasius industry in particular, face challenges from the end of 2022 due to prolonged inflation and high inventories
The seafood industry in general, and the pangasius industry in particular, face challenges from the end of 2022 due to prolonged inflation and high inventories. In addition to market difficulties, pangasius processing and exporting enterprises also face difficulties in terms of raw materials, credit and production. Input costs from broodstock to feed and other costs are constantly rising, farmers “abandon” ponds, leading to the risk of shortage of raw materials. Both farmers and export processing enterprises fall into a lack of capital to maintain production and business.
The current context of the pangasius industry is in need of the cooperation and support of the Government and state agencies as well as the solidation of farmers and businesses.
Pangasius exports in the coming time are mainly expected to China, some European countries such as the UK, Germany, Portugal and the Middle East markets. Pangasius exports are expected to recover in the third quarter of 2023, thanks to trade promotion programs.
Compiled by Thuy Linh
(seafood.vasep.com.vn) With continued policy support, technological innovation and close coordination among authorities, businesses and farmers, Vietnam’s pangasius industry is expected to make a strong and sustainable breakthrough during the 2026–2030 period, reinforcing its position as the world’s leading exporter of the fish.
(seafood.vasep.com.vn) During the first four months of 2026, Vietnam’s tilapia exports to Asian markets showed varying trends across regions and countries. The Middle East recorded strong growth, with Saudi Arabia emerging as the largest Asian market for Vietnamese tilapia. ASEAN markets also expanded significantly, driven primarily by Malaysia. Meanwhile, Japan maintained solid growth, while exports to South Korea declined compared to the same period in 2025.
(seafood.vasep.com.vn) Shrimp and pangasius continued to lead growth, helping seafood exports reach $4.67 billion in the first five months of the year; however, differentiation among product groups and increasingly stringent requirements from importing markets are posing many challenges for the industry.
(seafood.vasep.com.vn) Every day, the seafood processing industry in Ca Mau generates large quantities of shrimp heads and shells during processing operations. In the past, these by-products were largely treated as waste, increasing production costs and posing potential environmental risks. However, thanks to advanced processing technologies, materials once considered waste are now being transformed into high-value products, creating a circular economy model within the seafood industry.
(seafood.vasep.com.vn) Vietnam Clean Seafood Corporation has invested in a 280-hectare super-intensive shrimp farming zone in Tran De Commune, Can Tho City, generating export value of approximately VND 3 billion per hectare per year—around 50 times higher than traditional agricultural production.
(vasep.com.vn) Vietnam’s seafood exports reached USD 1.02 billion in May 2026, up 0.6% year-on-year. Cumulative exports in the first five months of 2026 totaled USD 4.67 billion, an increase of 11% compared to the same period in 2025.
(seafood.vasep.com.vn) In a rapidly changing global seafood market, timely insights and reliable data are more critical than ever. The Report on Vietnam Seafood Exports in Q1/2026 provides a comprehensive overview of the latest developments in Vietnam’s seafood production, trade performance, and export trends, helping businesses navigate uncertainty and identify new growth opportunities.
(seafood.vasep.com.vn) While many major markets continue to experience slow growth, Russia has emerged as a brighter destination for Vietnamese tuna exports in early 2026. Export turnover to this market increased by nearly 55% in the first four months of the year, indicating a clear improvement in demand. Nevertheless, Russia remains a market that should be viewed with both optimism and caution.
(seafood.vasep.com.vn) Vietnam’s pangasius exports have shown encouraging signs of recovery in 2026. In the first four months of the year, total export turnover reached USD 720 million, up 17% compared to the same period last year. This result reflects improving demand across many markets, as well as the efforts of Vietnamese pangasius enterprises to maintain production, secure orders, and adapt to changing market conditions.
(seafood.vasep.com.vn) In the first four months of 2026, Vietnam’s tilapia exports reached USD 49 million, up 151% compared to the same period in 2025. This impressive growth reflects positive momentum in the tilapia sector, with Brazil emerging as a key driver of growth, while frozen tilapia fillets continued to be the industry's leading export product.
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