Shrimp exports fell sharply in the first two months of this year due to sluggish market demand, high inflation, high inventories in the US, tight consumption in the EU due to economic difficulties. In addition, the strong decline can be explained as this time last year, shrimp exports increased too strongly (with $ 558 million, up 48% over the same period in 2021).
In February 2023, shrimp exports to main markets decreased from 12% to 35%, some markets showed signs of growth such as China, Australia and France, increased from 4-7%. Among the top 5 main import markets, shrimp exports to the US and EU decreased dramatically; shrimp exports to Japan and Korea also decreased but slightly; exports to China recovered, up 4%.
In the first 2 months of the year, shrimp exports to the US, EU and Japan increased from 51-58 million USD. Exports to Korea reached $46 million, exports to China&HK reached $34 million. Exports to these markets in the first 2 months of this year decreased by 16%-51% over the same period.
Competition between Vietnamese shrimp with Ecuador and India this year is also more intense when Ecuador's shrimp output in 2023 is expected to reach 1.5 million tons
In terms of shrimp production output, shrimp farming is in a transitional phase towards improving quality, renovating and repairing ponds and lakes, focusing on the quality of seed to limit diseases. Generally, by Feb 2023, whiteleg shrimp production reached 60.2 thousand tons, up 0.5%, black tiger shrimp production reached 31.3 thousand tons, up 0.3%.
In the last months of 2022 and into the beginning of this year, global inflation increased, world economic instability led to a decline in demand. Competition between Vietnamese shrimp with Ecuador and India this year is also more intense when Ecuador's shrimp output in 2023 is expected to reach 1.5 million tons. The price of imported shrimp in the world market has decreased gradually since the end of 2022 and is forecast to continue to decrease further as supply in 2023 is expected to increase.
In the difficult context, businesses must reduce costs, focus on added value products, and improve product quality. Enterprises can redirect exports to specific products such as shrimp-forest, shrimp-rice or black tiger shrimp, taking advantage of the Chinese market. Enterprises need to focus on changing product structure to actively meet the needs of each market segment.
Regardless of challenges, dynamic businesses that adapt early to new conditions will continue to dominate the market.
Vietnam’s shrimp exports situation will be brighter in the coming months when inventories in the US decrease and the world economic situation changes positively. In particular, the North American Seafood Fair taking place on March 12, 2023 is also expected to help increase shrimp export sales to the US market and other markets.
Compied by Thuy Linh
(vasep.com.vn) On November 11, 2026, in Can Tho, the Vietnam Association of Seafood Exporters and Producers (VASEP) will organize the Vietnam Seafood Summit 2026 (VSS 2026) under the theme “Seafood Market Outlook 2027–2029: Opportunities and Headroom for Double-Digit Export Growth.”
(seafood.vasep.com.vn) Business leader Do Ngoc Tai, General Director of Tai Kim Anh Seafood Processing Joint Stock Company, was honored by the Vietnam Chamber of Commerce and Industry (VCCI) with the title “Outstanding Vietnamese Entrepreneur – Thanh Giong Cup 2026” at a ceremony celebrating Vietnam Entrepreneurs’ Day (October 13). The event took place on the evening of October 11, 2026, at the National Convention Center in Hanoi.
(vasep.com.vn) The global tilapia market is becoming increasingly segmented, not only among producing countries but also by product type and destination market. Supply is divided into groups with distinct competitive advantages: large volumes of whole fish and frozen fillets from Asia, high-value fresh fillets from Latin America, and substantial domestic consumption in several major producing countries.
(vasep.com.vn) Vietnam’s tuna exports to the UK grew in the first eight months of 2026, despite signs of slowing import demand in the market. However, sharp fluctuations in orders, competition from major suppliers, and new traceability requirements are creating challenges for Vietnamese exporters.
(seafood.vasep.com.vn) Vietnam is stepping up efforts to combat illegal fishing, protect marine ecosystems, expand digital monitoring, and develop science-based management to ensure the sea can support communities and the economy for generations to come.
(seafood.vasep.com.vn) The EU remains a critical market for Vietnamese shrimp; however, purchasing demand and import patterns are undergoing notable changes. According to Vietnam Customs data, as of September 15, 2026, Vietnam’s shrimp exports to the EU reached nearly $374 million, down 5% year-over-year and accounting for 10.7% of the country’s total shrimp export value. Meanwhile, the EU’s stotal shrimp imports through July 2026 contracted by 7% in volume, exhibiting divergent trends across Southern Europe, Northwestern Europe and Eastern Europe. These dynamics necessitate that Vietnamese enterprises closely monitor individualized market demand, rather than approaching the EU as a monolithic consumer block.
(seafood.vasep.com.vn) In the first eight months of 2026, Vietnam’s exports of surimi and fish cakes remained relatively stable year-over-year compared to 2025. Following a contraction in the initial months, export performance demonstrated improvement from June onward, peaking in August. However, the recovery has been uneven, characterized by divergent trends across major markets: robust growth was recorded in China, Japan, Malaysia, the United States, and Taiwan, whereas export volumes to South Korea, Indonesia, and select European markets contracted.
(seafood.vasep.com.vn) Pangasius remains one of Dong Thap’s key aquaculture species, with the province focusing on developing an integrated value chain covering seed production, commercial farming, deep processing and by-product utilization. The province is promoting high-tech, circular pangasius farming models featuring reduced water exchange and enhanced biosecurity, aiming to improve production efficiency and strengthen control over raw material quality.
(vasep.com.vn) Vietnam’s seafood exports in September 2026 are estimated at US$1.135 billion, up 11.9% year-on-year, bringing total exports in the first nine months of the year to US$9.103 billion, up 11.4%. Behind this double-digit growth, however, increasingly divergent market trends are emerging: China–Hong Kong and ASEAN posted strong growth, while the U.S., EU and Japan all recorded declines in September.
(vasep.com.vn) In the first eight months of 2026, Brazil became the largest market for Vietnamese tilapia, with export value reaching US$44 million, up 22,142% year-on-year and accounting for 49% of Vietnam’s total tilapia exports. In August alone, exports to Brazil reached US$4 million. However, behind this remarkable growth is a market that is imposing increasingly stringent requirements on imported supplies.
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