Shrimp exports in February 2024 decreased by 11% to 173 million USD due to the Lunar New Year. However, thanks to strong growth in January, cumulative export turnover in the first 2 months of the year still recorded an increase.
The price of raw white leg shrimp and black tiger prawn in Vietnam since January this year tended to gradually increase, although it has not yet recovered to the price level of the same period last year. In the first month of this year, the average price of Vietnamese shrimp exports to the US, UK, and Korea recorded an increase, while the export price to China, the EU, and Japan recorded a decrease.
The Chinese and US markets still show attractiveness
In February 2024, Vietnamese shrimp exports to the China and Hong Kong markets increased by 76% to 39 million USD. This is the only market among the main shrimp import markets that recorded positive growth in February this year. Accumulated in the first 2 months of the year, shrimp exports to China and Hong Kong markets recorded a 3-digit growth of 143%, reaching more than 81 million USD.
The demand for importing Vietnamese shrimp to China in the first two months of this year was quite high. In the first month of this year, China sharply increased shrimp imports to meet Lunar New Year demand. In addition, China reduced imports from Ecuador, China's largest shrimp supplier, so this market increased shrimp imports from Vietnam. In the Chinese market, Vietnamese shrimp has to compete in price with rival suppliers, but many buyers in China consider Vietnamese shrimp to be of higher quality than Ecuador and India, so they have accepted the price higher.
In 2023, China imported 1 million tons of shrimp, showing the large capacity of this recent market. Vietnamese enterprises also have a strategy to focus on selling shrimp products to China that other shrimp-supplying countries cannot meet. Vietnamese shrimp exports to China still grew well in the first half of this year.
Vietnamese shrimp exports to the US in February of this year reached 31 million USD, down 9%. In the first two months of the year, shrimp exports to this market reached 72 million USD, an increase of 26%. Although it decreased in January, it was at a slight pace due to the coincidence with the Lunar New Year holiday. The average price of Vietnamese shrimp exports to the US, after hitting bottom in November 2023, tended to increase in the first months of this year.
Experts say that US sales of fresh and frozen seafood are forecast to stabilize in 2024 after facing many difficulties in 2023 due to inflation and people tightening spending. Compared to some of the main shrimp suppliers in the US, which are India, Ecuador, and China, Vietnam is considered more promising, especially when diplomatic relations between Vietnam and the US are good, opening up many opportunities for products exporting Vietnam into America. The US is also having a policy of increasing purchases from other countries, reducing dependence on Chinese goods.
The North American Seafood Exhibition 2024 takes place from March 10–12 with the participation of many large shrimp exporters to the US, also promising many prospects for shrimp exports to this market.
Difficulties and challenges for the shrimp industry still exist, such as desease in farmed shrimp is still worrying, market demand is still weak, and there has not been a clear recovery in the EU, Japan, and Korea markets. The shrimp industry is determined to focus on the farming stage to increase competitiveness and promote the production of value-added products. With the support of the government, ministries, and branches, shrimp exports hope to soon return to the growth track this year.
(seafood.vasep.com.vn) Vietnam’s tilapia exports maintained strong growth momentum in May 2026, reaching USD 14 million, up 18% compared with the same month last year. Cumulative export value for the first five months of 2026 totaled USD 62 million, representing a remarkable 101% increase over the same period in 2025, highlighting the sector’s strong recovery in international markets.
(seafood.vasep.com.vn) Vietnam’s tuna exports reached USD 367 million in the first five months of 2026, down 7% compared to the same period in 2025. While the decline is not yet severe, the more concerning issue is that pressure is mounting in key markets such as the United States and the European Union, just as ocean freight rates are rising sharply on long-haul routes. The current situation is therefore not merely about slower orders, but rather a clear restructuring phase for Vietnam’s tuna industry.
(seafood.vasep.com.vn) The year 2026 marks a period of strong growth for Vietnam’s tilapia industry, but it is also a time when international export competition is becoming increasingly intense. Vietnam’s tilapia exports reached USD 99 million in 2025, up 140% compared to the previous year. In the first four months of 2026 alone, export value reached USD 49 million, a 151% increase year-on-year. As global demand for affordable whitefish continues to rise, Vietnam is emerging as a noteworthy competitor to traditional tilapia powerhouses such as China, Indonesia, Brazil, and Egypt.
(seafood.vasep.com.vn) With continued policy support, technological innovation and close coordination among authorities, businesses and farmers, Vietnam’s pangasius industry is expected to make a strong and sustainable breakthrough during the 2026–2030 period, reinforcing its position as the world’s leading exporter of the fish.
(seafood.vasep.com.vn) During the first four months of 2026, Vietnam’s tilapia exports to Asian markets showed varying trends across regions and countries. The Middle East recorded strong growth, with Saudi Arabia emerging as the largest Asian market for Vietnamese tilapia. ASEAN markets also expanded significantly, driven primarily by Malaysia. Meanwhile, Japan maintained solid growth, while exports to South Korea declined compared to the same period in 2025.
(seafood.vasep.com.vn) Shrimp and pangasius continued to lead growth, helping seafood exports reach $4.67 billion in the first five months of the year; however, differentiation among product groups and increasingly stringent requirements from importing markets are posing many challenges for the industry.
(seafood.vasep.com.vn) Every day, the seafood processing industry in Ca Mau generates large quantities of shrimp heads and shells during processing operations. In the past, these by-products were largely treated as waste, increasing production costs and posing potential environmental risks. However, thanks to advanced processing technologies, materials once considered waste are now being transformed into high-value products, creating a circular economy model within the seafood industry.
(seafood.vasep.com.vn) Vietnam Clean Seafood Corporation has invested in a 280-hectare super-intensive shrimp farming zone in Tran De Commune, Can Tho City, generating export value of approximately VND 3 billion per hectare per year—around 50 times higher than traditional agricultural production.
(vasep.com.vn) Vietnam’s seafood exports reached USD 1.02 billion in May 2026, up 0.6% year-on-year. Cumulative exports in the first five months of 2026 totaled USD 4.67 billion, an increase of 11% compared to the same period in 2025.
(seafood.vasep.com.vn) In a rapidly changing global seafood market, timely insights and reliable data are more critical than ever. The Report on Vietnam Seafood Exports in Q1/2026 provides a comprehensive overview of the latest developments in Vietnam’s seafood production, trade performance, and export trends, helping businesses navigate uncertainty and identify new growth opportunities.
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