The historical milestone of 11 billion USD for the seafood export industry in 2022 was mentioned many times by businesses, state management agencies and the media in the early days of 2023 with joy and pride. However, this successful result was thanks to the continuous growth in the first 3 quarters of the year, with a high rate of 34 -46% over 2021. In the fourth quarter, the export trend reversed to negative growth of more than 9% and fell deeply in all sectors due to the impact of inflation.
In January 2023, following the trend of the last quarter of the previous year plus the Lunar New Year holiday, seafood exports continued to decrease sharply. It is estimated that in the first month of the year, seafood exports decreased by 31%, reaching about 600 million USD. In which, pangasius decreased by 50%, shrimp decreased by 46%, tuna decreased by 32%, especially squid and octopus maintained a positive growth of 4% and other marine fish species increased by 6%.
Exports to major markets in January 2023 all decreased sharply, of which the US decreased by 56%, China - HK decreased by 55%, the EU decreased by 35%.
In the first months of the year, the picture of seafood exports can’t be brightened up, especially when the world economy is forecasted to experience a recession this year. However, seafood is still an essential food item, the demand can not drop too sharply. There will be adjustments in demand by product segment. Accordingly, the advantage will be more inclined to affordable-priced goods because it is suitable for low- or middle-income consumers, the group most affected by inflation.
According to economic experts, there are still many risks in 2023. The tension in Russia-Ukraine could increase, the possibility of a transatlantic trade war that could continue to affect seafood supplies in major markets. That context could also be an opportunity for Vietnamese seafood to increase supply to the US, China, and EU markets.
In addition, the opening of China gives great hope for a recovery in demand not only in this market but also in other markets around the world. The recovery will be more clear from the second quarter of 2023.
Besides, experts are optimistic about markets that are assessed to have economic growth this year such as Asia, the Middle East, etc.
In that context, seafood enterprises have to ensure financial health to maintain stable production and raw materials supply to speed up production when the consumption market recovers. Seafood businesses can take advantage of each sector in terms of supply and consumption market factors by capturing market information and forecasting.
The conditions for the Vietnamese business environment are also gradually improving in the direction of supporting more production and export. One outstanding news is the update of infrastructure and logistics for export production in the key Mekong Delta region. On the first day of the new year, Prime Minister Pham Minh Chinh inspected key transport projects in the Mekong Delta and required that by 2026 the Mekong Delta must have 554 km of highways. This is good news for the economic development of the region, especially in the fisheries sector. This is also expected to be a driving force and a condition to promote seafood production and export in the coming time.
Right from the first days of the new year 2023, the exciting atmosphere of farmers, fishermen and many seafood enterprises has also shown optimism in the recovery of the consumption market as well as the stability of seafood exports. With that spirit, the seafood industry looks forward to the recovery of demand and increase of orders from the second quarter of 2023.
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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