In 2021, Vietnam's shrimp exports will face many difficulties due to the impact of the 4th Covid-19 epidemic. The Covid-19 epidemic disrupts the global supply chain, increasing costs, especially shipping costs to markets.
The bright spot of Vietnamese shrimp in 2021 is to maintain a fairly good growth in the US market throughout the year. In 2021, Vietnam's shrimp exports to the US reached over 1 billion USD, an increase of 20% compared to 2020.
In 2021, Vietnam's shrimp market share in the US market has increased to 13% from 11% in 2020. Retail sales in the US maintained an increase during the pandemic. Demand for restaurants and food services in the US gradually recovered thanks to the economic stimulus packages of the US Government and the strategy of opening up and living with Covid. The growth rate of Vietnam's shrimp exports to the US will continue until the first quarter of 2022.
Along with the US, the EU is also a Vietnamese shrimp import market that recorded positive activity in 2021. In 2021, Vietnam's shrimp exports to the EU reached more than 613 million USD, up 19% compared to 2020. Shrimp exports to three main markets (Netherlands, Germany, Belgium) increased by 11%, 25% and 19%, respectively.
One year after the EVFTA Agreement between Vietnam and the EU took effect, Vietnam's shrimp exports to the EU market recorded good growth.
In contrast, Vietnam's shrimp exports to China and Japan in 2021 decreased.
Vietnam's shrimp exports to China in 2021 will reach more than $412 million, down 22%. In 2021, exports to China dropped sharply because the country applied a "zero Covid" policy and strict inspection at the port to prevent the Covid epidemic.
Exports to Japan in 2021 will reach 578 million USD, down 6% compared to 2020. The country's economic growth slows down because Covid reduces the demand for seafood, including shrimp. Vietnam's shrimp exports to Japan are still subject to 100% inspection regulations, so shrimp exports to this country in 2021 cannot increase.
For more information on Vietnam's shrimp production and export over the 5-year chain (2016-2021), the impact of Covid on the industry, and trends in world markets, please refer to the Report on shrimp sector in Vietnam, 2016-2021 and forecast to 2025.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
(seafood.vasep.com.vn) The Report on Vietnam Pangasius Sector 2015–2024, produced and released by the Vietnam Association of Seafood Exporters and Producers (VASEP) in January 2025, is expected to provide enterprises, importers, and government agencies with a comprehensive overview of key developments in Vietnam's pangasius production and export over the past decade. In addition to highlighting achievements, the report identifies existing challenges and analyzes future opportunities and threats for the pangasius industry.
(vasep.com.vn) Overcoming two years of fluctuation in both export markets and domestic production, Vietnam's pangasius industry has demonstrated resilience, adaptability, and a strong determination to seize opportunities and boost exports to various markets. As a result, in 2024, pangasius exports reached USD 2 billion, a 9% increase compared to 2023. This achievement is a source of pride for Vietnam's aquaculture and agriculture sectors.
(seafood.vasep.com) Speaking at a conference to implement the 2025 plan of the Ministry of Agriculture and Rural Development, Prime Minister Pham Minh Chinh urged the agricultural sector to strive for a total export turnover of agricultural, forestry, and fishery products reaching $70 billion by 2025.
With robust production and processing infrastructure, combined with continuous market development efforts, Vietnam’s seafood exports are poised for 10–15% growth in 2025.
In 2025, seafood exports are expected to continue to grow better and could reach 11 billion USD as in 2022. However, this is also the year the seafood industry will face challenges, including increased competition from other countries, trade wars and market barriers...
(seafood.vasep.com.vn) On the afternoon of December 25, at Toan Thinh Conference Center (Soc Trang City), the Soc Trang Fisheries Sub-department, under the Department of Agriculture and Rural Development of Soc Trang, held a conference to review the 2024 aquaculture activities and outline the brackish water shrimp farming plan for 2025. The event was attended by Ms. Quach Thi Thanh Binh, Deputy Director of the Department of Agriculture and Rural Development of Soc Trang.
The Mekong Delta province of Soc Trang aims to achieve export value of over 1.9 billion USD in 2025 by boosting production and processing of key products such as seafood, high-quality rice, fruits, and garments.
The UK-Vietnam Free Trade Agreement has significantly boosted Vietnamese seafood exports, with shrimp and pangasius leading the charge in the UK market.
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