In November 2022, exports of shrimp, pangasius and tuna all decreased by 20-26% compared to the same period last year. Only cephalopods and marine fishes exports still maintained positive growth of 9% and 6%, respectively.
By the end of November, pangasius exports still grew strongly by 63% to nearly 2.3 billion USD, shrimp exports earned over 4 billion USD, up 14%. Tuna is the sector with the second largest growth of 40%, reaching 941 million USD. Export of cephalopods also increased strongly by 30% to 704 million USD.
The US market contributes the largest amount of foreign currency to Vietnamese seafood with over US$2 billion, up nearly 10% over the same period in 2021. Exports to China - Hong Kong and the Japanese market achieved approximate sales , about 1.6 billion USD. By the end of November, seafood exports to the EU market brought in over $1.2 billion and to South Korea reached over $882 million.
The CPTPP countries (including Japan), accounted for over 26% of Vietnam's total seafood exports with nearly $2.7 billion in the first 11 months of the year, up 34%.
In general, the achievement of over 10 billion USD by the end of November is the result of strong growth in the first 3 quarters of the year, with favorable market demand, increased export prices, and sufficient raw materials to supply orders.
In the second half of 2022, Vietnam's seafood export growth slowed down
However, in the second half of the year, export growth slowed down and market demand dropped, especially in the fourth quarter. In October, seafood exports only increased by 2% over the same period. In November, seafood exports increased 14%, lower than in November 2021.
Seafood exports in December are forecasted to fall further and the decline trend will last until 2023. Inflation heavily affects import markets, and decreases the purchasing demand in the first quarter of 2023. Many seafood enterprises said that orders have dropped sharply not only for high-priced items such as black tiger shrimp, large white leg shrimp, and high-class seafood such as squid, octopus, tuna, etc, but also other affordable products such as small shrimp, pangasius, small sea fish, fish cakes, surimi also saw a significant reduction in demand for the next quarter.
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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