Since April 2025, following the U.S. government’s announcement of a temporary 10% tariff on a wide range of imports from Vietnam — including seafood — exporters have scrambled to adjust. Companies accelerated shipments to the U.S. in April and early May to mitigate the risk of being hit with higher duties — potentially up to 46% — once the 90-day temporary tariff window ends on July 9.
As a result, exports to the U.S. in May still rose 9.7% year-on-year to nearly USD 160 million. However, several exporters noted that shipments slowed significantly after May 20 as they adopted a more cautious approach. Rising costs, policy uncertainty, and market volatility have collectively dampened trading activity and weighed on the month’s overall export figures.
Shrimp remained a standout performer, with May exports rising 12.4% to USD 363 million — accounting for over 42% of the total value. For the January–May period, shrimp exports exceeded USD 1.66 billion, up 28.3%, driven by robust demand from the U.S., Japan, and CPTPP markets.
In contrast, pangasius (tra fish) exports plunged 17.3% in May to USD 138 million — the steepest drop among major seafood categories. Exporters have temporarily scaled back U.S.-bound shipments, aiming to avoid potential tariff hikes and restructure their market strategies. Companies like Caseamex are increasingly shifting focus to the EU and Asian markets, which are technically demanding but carry lower trade risks.
Tuna exports also fell sharply, down 23.2% in May to USD 65 million, amid rising logistics costs and intensified competition from Latin American suppliers.
In response to U.S. trade policy uncertainty, many Vietnamese seafood enterprises have pivoted toward market diversification and value-added processing. Exports to CPTPP markets such as Japan, Canada, and Mexico continued to rise, reaching USD 224 million in May (up 7.9%) and over USD 1.15 billion in the first five months (up 24.3%).
China and Hong Kong also recorded impressive growth, with May exports nearing USD 185 million and five-month value exceeding USD 900 million — increases of 22.3% and 48.6%, respectively. These gains reflect both Vietnam’s efforts to restructure export markets and strong demand for products that meet regional preferences in taste, pricing, and supply chain flexibility.
Many companies are also investing in deeply processed products — such as fish balls, marinated fillets, canned fish, and collagen derived from by-products — to tap into niche markets and meet rising demand for convenient food options, especially in major Asian urban centers.
Between now and July — when the U.S. is expected to finalize its tariff rates on certain Vietnamese goods — exporters will likely remain cautious in their U.S. strategies. Businesses must carefully time shipments to avoid tax exposure while retaining key customers. If the 10% tariff remains in place, exports may hold steady. However, if the 46% rate is enacted, a sharp decline in U.S.-bound exports is likely, forcing a more aggressive restructuring of market priorities.
In the long term, the industry must fully leverage free trade agreements (FTAs) such as CPTPP, EVFTA, and UKVFTA to diversify its export portfolio. Key structural improvements — including logistics cost reduction, infrastructure upgrades, and enhanced compliance with international standards — will also be crucial. Government support in the form of credit policies, sustainable farming programs, and investment in processing capacity will help improve overall competitiveness and long-term growth.
(seafood.vasep.com.vn) Although Germany’s tuna imports have declined, Vietnam’s tuna exports to the market continue to show positive signs. Notably, export value recovered strongly in Q3/2026, and German import data also show Vietnamese products strengthening their position amid competition among suppliers.
(seafood.vasep.com.vn) Seafood exports are holding double-digit growth, but the opportunities are not spread evenly across product groups and markets. As businesses draw up their plans for 2027, Vietnam Seafood Summit 2026 (VSS2026) offers a chance to look ahead together: what to sell, where to sell it, and how to prepare for growth in the coming years.
(seafood.vasep.com.vn) With less than two weeks to go, the Vietnam Seafood Summit 2026 (VSS 2026) will officially take place in Can Tho. Under the theme “Seafood Market Outlook 2027–2029 – Opportunities and Potential for Double-Digit Export Growth,” the Summit is organized by VASEP at a time when seafood businesses are facing rapid market shifts, changing buyer demand, trade policy changes and growing competitive pressure all at once.
(seafood.vasep.com.vn) On October 28, 2026, the China Fisheries & Seafood Expo opened in Qingdao, China. The expo takes place over three days from October 28 to 30, 2026. This is a prestigious specialized seafood exhibition organized annually by Sea Fare Exposition Inc.
(vasep.com.vn) In the first nine months of 2026, Vietnam’s tilapia exports to the CPTPP bloc reached $7 million, marking a 51% year-on-year increase. The bloc rstands as the fourth-largest market for Vietnamese tilapia, trailing Brazil, the US, and Saudi Arabia.
(vasep.com.vn) VASEP has officially announced the program for Vietnam Seafood Summit 2026 (VSS 2026), featuring five in-depth sessions covering industry outlooks, trade barriers, buyer demand, the domestic market, and solutions to improve productivity and reduce costs across the seafood value chain.
(vasep.com.vn) Vietnam’s shrimp exports reached US$3.7 billion in the first nine months of 2026, up 11% year on year. Although growth has been supported by China and several markets within the CPTPP, momentum is slowing as exports to the United States and the European Union decline. Tariff pressures, international competition, and raw material challenges are creating significant hurdles for exporters in the final months of the year.
(vasep.com.vn) Markets are changing faster, buyer requirements are becoming more demanding, and trade barriers are growing increasingly complex. In this environment, seafood businesses need more than an understanding of current market conditions. They need a longer-term perspective to answer a critical question: Where will growth opportunities come from in 2027–2029, and what should businesses do now to prepare? This is one of the key reasons why VASEP is organizing Vietnam Seafood Summit 2026.
(vasep.com.vn) In the first eight months of 2026, Vietnam’s pangasius exports to the Middle East reached US$113 million, up 7% year on year from the same period in 2025. Growth has become more pronounced in recent months. In August alone, exports to the region totaled US$20 million, an increase of 24%. This indicates that demand for Vietnamese pangasius in the Middle East is gradually recovering after a slowdown in March, although the pace of recovery varies across markets.
(vasep.com.vn) China’s shrimp imports continued to grow strongly in 2026, while Vietnam’s shrimp exports to the market also recorded notable growth. However, behind these positive figures lie two distinct trends: Chinese consumption is growing more slowly than imports, and lobster accounts for a substantial share of Vietnam’s shrimp exports to China, making its product mix significantly different from those of Ecuador and India. Exporters therefore need to assess each segment carefully to understand the opportunities and risks.
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
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Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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