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) 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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