In 1997–1998, Vietnam’s pangasius industry was just taking its first steps, embarking on a journey to establish its presence in the global market. With an export value of nearly $1.7 million, equivalent to 425 tons in 1997, pangasius was a novel product—a white-fleshed, flavorful, and nutritious catfish—introduced to the world. During this period, exports primarily targeted neighboring Asian markets such as China, Hong Kong, Singapore, and Taiwan. Notably, the early years were considered a “golden era” for pricing, with average export prices ranging from $3.9 to $4.1 per kilogram.
Taking advantage of favorable conditions, pangasius farming in the Mekong Delta transitioned from small-scale operations to industrial production, with cultivation areas exceeding 5,000 hectares. While export turnover during the first five years (1997–2001) reached just over USD 25 million (about 7,000 tons), the following five years (2002–2006) saw a dramatic surge to nearly USD 1.5 billion with close to 600,000 tons exported. Particularly, the 2007–2011 period marked a “great leap,” with total export value reaching USD 7 billion and volume surpassing 2.9 million tons — a historic milestone that solidified Vietnam's pangasius as a prominent player in the global seafood market.
The pangasius industry’s development has been closely tied to the support of the Vietnam Association of Seafood Exporters and Producers (VASEP). From an initial membership of 70–98 companies between 1998 and 2000, VASEP has grown to over 300 member enterprises. Under this shared platform, Vietnamese-branded pangasius products have increasingly strengthened their presence in demanding markets such as China, the United States, and the European Union.
However, success has also brought challenges. The competitive quality and pricing of Vietnamese pangasius have raised concerns within the domestic catfish industry in the United States. As a result, Vietnamese pangasius has faced technical barriers such as anti-dumping duties, the USDA’s catfish inspection program, and negative media campaigns from certain Western markets.
Despite these challenges, Vietnam’s pangasius exports maintained impressive growth. In 2008, export revenue reached $1.4 billion for the first time, marking the start of a “billion-dollar” era that lasted over a decade. Although the 2012–2017 period saw a slight slowdown (USD 1.56–1.78 billion annually), a strong recovery was recorded in 2018–2019, with export value exceeding USD 2 billion.
The COVID-19 pandemic in 2020–2021 led to a downturn, with export value dropping to USD 1.49 billion in 2020 and USD 1.61 billion in 2021. However, the industry rebounded swiftly, achieving a record $2.4 billion in 2022, demonstrating its resilience and adaptability.
In 2023, global economic instability, global economic instability—driven by inflation and the Russia–Ukraine conflict—led to a significant decline in Vietnam’s pangasius exports. By mid-May 2023, export revenue reached only $842 million, a 30% drop compared to the same period in 2022. However, in May 2023, Vietnamese pangasius exports recorded a 10% growth, the first positive increase in months, signaling the beginning of a potential recovery phase.
"Proactive Adaptation
Creative Innovation
Sustainable Development"
It is the key message of the 7th General Assembly (2025–2030) of the Vietnam Association of Seafood Exporters and Producers (VASEP), highlighting the continued journey of bringing Vietnamese seafood—especially pangasius—to the global market. The 27-year journey stands as a testament to the resilience and relentless efforts of Vietnam's pangasius industry, evolving from a traditional trade into a key export sector contributing significantly to the country's seafood export value.
Challenges are inevitable, but they also present opportunities for reflection, restructuring, and renewed commitment to sustainable development. Vietnamese pangasius has established, and will continue to reinforce, its indispensable role in the global seafood supply chain.
(seafood.vasep.com.vn) Vietnam’s seafood exports in February 2026 reached approximately USD 707 million, up 8% compared to the same period last year. Cumulatively, exports in the first two months of 2026 totaled USD 1.7 billion, an increase of 20.2% year-on-year. The results show that the sector’s recovery momentum has remained relatively solid following strong growth in January, although the pace slowed noticeably in February for several key products and major markets. Within the overall picture, shrimp continues to be the largest pillar, pangasius rebounds strongly, while tuna exports and the U.S. and Korean markets are sending signals that warrant closer monitoring. In March, seafood exports are expected to gain additional momentum from markets other than the U.S., potentially supporting stronger growth.
(seafood.vasep.com.vn) In the first months of 2026, fishing activities in Quang Tri province recorded many positive signals, with output reaching over 15,941 tons. This result not only demonstrates fishermen’s efforts to stay offshore but also reflects the effectiveness of management and support measures implemented by local authorities.
(seafood.vasep.com.vn) In the first months of 2026, IUU prevention models focused on communication and mobilizing fishermen to comply with fisheries laws and avoid encroaching on foreign waters—related to combating illegal, unreported, and unregulated (IUU) fishing—have been implemented in coastal localities of Lam Dong province and have delivered initial positive results.
(seafood.vasep.com.vn) The sharp rise in raw pangasius prices to record levels is sending positive signals for the industry, but experts warn of potential supply–demand imbalances if production is not tightly controlled.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, the country’s total canned tuna export value in 2025 reached over USD 275 million, down 8% compared to 2024. Vietnamese canned tuna products were present in approximately 80 markets worldwide. However, the 2025 picture shows clear divergence: the U.S. maintained stability, the EU declined sharply, while several Middle East–North Africa (MENA) markets accelerated.
(seafood.vasep.com.vn) In 2025, Vietnam’s crab exports reached nearly USD 86 million, up almost 6% compared to 2024. A notable feature of 2025 was the strong market concentration in the United States, which accounted for more than 81% of Vietnam’s total crab export value, up 10% from the previous year. In contrast, exports to several Asian markets declined significantly, resulting in only modest overall growth for the year.
(seafood.vasep.com.vn) In 2025, Vietnam’s tilapia exports recorded impressive growth, with total export turnover reaching over USD 99 million, highlighting the increasingly important role of this product in the country’s seafood export structure. Of this total, tilapia fillets and other fish meat products accounted for USD 61 million, representing 61% of total export value and reaffirming their position as the key product category.
(seafood.vasep.com.vn) Shrimp seed quality is considered the “first link” and a decisive factor affecting the efficiency of the entire commercial shrimp production chain. High-quality seed directly influences survival rates, growth performance, and disease resistance, thereby determining production costs, productivity, and farmers’ profitability.
(seafood.vasep.com.vn) As part of its agricultural restructuring strategy toward sustainability, Quang Tri Province is gradually promoting environmentally friendly aquaculture models. Among these, organic-oriented golden pompano farming is considered a promising direction, aligned with the goals of enhancing production value and building sustainable rural areas.
(seafood.vasep.com.vn) The year 2025 marked a pivotal milestone for Vietnam’s seafood industry in its restructuring process toward sustainability, transparency, and higher value creation, amid continued uncertainties in the global economic and trade environment. Prolonged inflation in major economies, the rising trend of trade protectionism, and increasingly stringent requirements related to environmental standards, traceability, and social responsibility have posed significant challenges to seafood production and exports. Nevertheless, overcoming these pressures, Vietnam’s seafood sector has gradually demonstrated its adaptability, maintained growth momentum, and laid an important foundation for the next stage of development.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
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