The surge in exports comes amid strong demand for seafood imports in key markets. Notably, exports to China and Hong Kong soared by 37%, reinforcing their status as the largest and fastest-growing markets this month. Other markets also performed well: exports to the U.S. rose by 31%, Japan by 22%, and the EU by 27%, while South Korea saw a more modest increase of 13%.
By the end of October, total seafood exports to China, Hong Kong, and the U.S. reached $1.5 billion. If the current growth trend of 20% over the past ten months continues, China and Hong Kong may surpass the U.S. as the largest import markets for Vietnamese seafood by the end of 2024.
Although the European economy is recovering more slowly than that of the U.S. and China, there are positive signals in seafood consumption and import prices, which bode well for Vietnamese businesses. By the end of October, exports to the EU had risen by 11% compared to last year.
In contrast, exports to Japan and South Korea recorded only modest growth of 1.5% to 2%, affected by prolonged inflation impacting consumer demand. Japan, previously one of Vietnam's top two import markets, fell to third place in 2024 with a turnover of $1.25 billion in the first ten months, while South Korea reached $646 million.
Among seafood products, shrimp and pangasius are showing significant growth potential. By the end of October 2024, shrimp exports had surpassed $3.2 billion, an increase of 13%, while pangasius exports approached $1.7 billion, up 10%. In October alone, shrimp and pangasius exports surged by 26% and 24%, respectively, outperforming tuna and octopus.
A positive development for the Vietnamese shrimp industry occurred on October 22, 2024, when the U.S. Department of Commerce announced preliminary countervailing duties on shrimp imports from Ecuador, India, and Vietnam. The tax rate for Vietnamese shrimp is set at 2.84%, significantly lower than the rates for India (4.36%) and Ecuador (7.55%), providing a competitive advantage in the U.S. market.
Despite the peak import season for shrimp and pangasius, both industries face domestic raw material shortages. Businesses need to adapt by utilizing reserve raw materials and alternative supply sources to maximize market opportunities.
In terms of other seafood products, crabs and shellfish have maintained strong growth since the beginning of the year. In October, crab and crustacean exports rose by 58%, while shellfish exports increased by 138%. Over the first ten months of the year, these two categories generated revenues of $267 million and $173 million, respectively, up 66% and 58% from 2023. With a decrease in U.S. seafood imports, particularly high-end products, China has increased its imports from Vietnam, creating new opportunities for these categories.
Although exports of tuna and squid/octopus saw positive growth in October, their growth rates have slowed compared to earlier in the year due to regulatory challenges related to Decree 37, which governs exploited seafood. This has led to delays in certification processes at various fishing ports. For skipjack tuna, essential for canning, fishing is currently halted due to concerns over compliance with minimum size regulations.
The seafood industry is hopeful for favorable outcomes following the EU's IUU inspection program scheduled for November 2024. If successful, tuna exports could potentially reach the $1 billion target achieved in 2022.
For more detailed forecasts on seafood export results in 2024, please see here.
(seafood.vasep.com.vn) Can Tho City statistics indicate that in 2025, following the merger of three former administrative entities - Can Tho, Hau Giang and Soc Trang - fisheries output in 2025 increased by 6.23% compared with 2024 with aquaculture production nearly 9.1 times higher than capture fisheries.
(seafood.vasep.com.vn) According to the Ca Mau Department of Agriculture and Rural Development, Ca Mau province has achieved significant, comprehensive and substantive progress in combating IUU fishing in 2025, successfully fulfilling all tasks directed by the central government and strengthening fisheries governance. These efforts have established a solid foundation for the nationwide effort to lift the EC’s "yellow card" warning.
(seafood.vasep.com.vn) Ca Mau has exceeded its 2025 production targets, reaching nearly 595,000 tons of shrimp. This milestone reinforces the province’s position as Vietnam’s leading shrimp producer and a bright spot in the country’s seafood sector.
(seafood.vasep.com.vn) According to Vietnam Customs data, cumulative shrimp exports from the beginning of the year through November reached $4.3 billion, up 21% year-on-year, continuing to serve as the primary growth driver of the entire seafood sector. In November alone, export turnover amounted to $393 million, up 14%.
(seafood.vasep.com.vn) In 2025, the fisheries sector continued to stand out as a bright spot in Ca Mau’s economic landscape, maintaining positive growth in both output and value.
(seafood.vasep.com.vn) By the end of November 2025, Vietnam’s total pangasius export turnover had exceeded the $2 billion threshold, registering a 9% compared with the same period in 2024. In November alone, pangasius exports reached $195 million, also posting a 9% increase year-on-year, underscoring a stable recovery trajectory for the sector in the final months of the year.
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(seafood.vasep.com.vn) An Giang is focusing on expanding climate-adaptive marine aquaculture models, aiming for safe and sustainable production. This approach not only enhances economic efficiency but also helps fishermen stabilize their livelihoods amid weather fluctuations.
(seafood.vasep.com.vn) In the first 10 months of 2025, Vietnam’s pangasius export value to China (including Mainland China and Hong Kong) reached $483 million, up 1% compared to the same period in 2024. October alone posted $73 million, a strong 19% increase year-on-year. The Chinese market currently accounts for nearly 27% of Vietnam’s total pangasius export value.
(seafood.vasep.com.vn) According to data from Vietnam Customs, the country’s lobster exports posted another strong month in October 2025, reaching $93 million - a 75% increase from the same month in 2024. This performance extends the sector’s impressive growth streak from earlier in the year, pushing cumulative exports for the first 10 months to $712 million, up an extraordinary 135% year-over-year. Within the product mix, green lobster remained the dominant driver, accounting for 98% of total export value, with $700 million recorded in the first 10 months - a 141% jump year-on-year. In contrast, exports of spiny lobster and other lobster varieties declined slightly by 22% and 1%, respectively, indicating that market demand is becoming increasingly concentrated on the most sought-after product line.
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