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) On the afternoon of March 19, Vice Chairman of the Ca Mau Provincial People’s Committee, Le Van Su, chaired a meeting to address bottlenecks and propose solutions to expand the super-intensive whiteleg shrimp farming model using low water exchange and high biosecurity standards (RAS-IMTA).
(seafood.vasep.com.vn) On March 10, 2026, the Ho Chi Minh City People’s Committee issued Decision No. 1377/QD-UBND approving the Aquatic Animal Disease Prevention and Control Plan for the 2026–2030 period. The decision takes effect from the date of signing and replaces previous plans for the 2021–2030 period that had been issued prior to the administrative merger in Ba Ria – Vung Tau, Binh Duong, and Ho Chi Minh City.
(vasep.com.vn) In 2025, Chile imported more than USD 156 million worth of tuna, up 8.1% compared to the previous year and the highest level in the past five years. As the supply structure in this market is rapidly shifting, Vietnamese tuna is facing both opportunities to expand market share and increasing competitive pressure from Thailand, Colombia, and China.
(seafood.vasep.com.vn) Vinh Long Province is stepping up efforts to develop brackish water shrimp farming in a sustainable direction, identifying it as a key sector in its agricultural structure. In 2026, the province aims to reach around 71,300 hectares of shrimp farming, with an output of over 314,000 tons.
(seafood.vasep.com.vn) Ha Tinh Province is strengthening control over shrimp seed quality to minimize risks for the 2026 spring–summer farming season.
(seafood.vasep.com.vn) In February 2026, Vietnam’s pangasius exports reached USD 119 million, down slightly 5% year-on-year. However, thanks to strong performance in January, cumulative exports in the first two months of the year still reached USD 331 million, up 28% compared to the same period in 2025. Export activity slowed somewhat in February due to seasonal factors, particularly the Lunar New Year holiday, which disrupted production and shipments at many seafood processing enterprises.
(seafood.vasep.com.vn) Da Nang is accelerating the development of high-tech shrimp farming toward intensive production, disease control, and improved efficiency. Many shrimp farms have invested in automated environmental monitoring systems, continuously tracking indicators such as pH, dissolved oxygen, temperature, and salinity, enabling farmers to promptly adjust pond conditions and reduce disease risks.
(seafood.vasep.com.vn) The year 2025 is considered a turning point for Vietnam’s shrimp seed industry as the sector faces the need for strong transformation in technology, production management, and gradual self-sufficiency in broodstock supply. These factors are seen as key to improving seed quality and strengthening the competitiveness of the shrimp industry amid increasingly demanding market requirements.
(seafood.vasep.com.vn) In February 2026, Vietnam’s shrimp exports reached nearly USD 310 million, up 17% year-on-year. Cumulatively for the first two months of the year, shrimp export value totaled USD 690 million, an increase of 20% compared with the same period last year. Compared with the 22% growth recorded in January, the pace of increase in February slowed somewhat, reflecting seasonal factors as the Lunar New Year holiday partially disrupted processing and shipment activities. Nevertheless, the nearly 20% growth in the first two months indicates that shrimp orders from Vietnam are maintaining a more positive trend than in the same period last year.
(seafood.vasep.com.vn) According to the latest statistics for January 2026, Vietnam’s pangasius export value to major market blocs recorded encouraging growth compared with the same period last year, indicating that consumption demand is gradually recovering.
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