Vietnam’s Seafood Exports Show Strong Recovery

01/07/2025 08:59

Vietnam’s seafood exports in May and over the first five months of 2025 recorded impressive growth, primarily driven by proactive strategies by businesses and improved global market conditions.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first four months of 2025, export turnover reached US $3.3 billion, up 21 % year‑on‑year. In April alone, seafood exports were valued at US $850.5 million, a 10 % increase.

Shrimp remains the main export product, contributing US $1.27 billion in the first four months—30 % growth year‑on‑year. April shrimp exports were US $330.8 million, up 15 %, driven by strong demand in major markets like China, the EU, and Japan, alongside a rebound in global shrimp prices .

Pangasius (tra fish) exports reached US $632.7 million (a 9 % rise), though April’s figure of US $167.7 million showed no year‑on‑year growth .

Tuna shipment volumes fell to US $76.1 million in April (a 12 % decline), though up 1 % overall to US $304.2 million across four months. This drop is attributed to raw material shortages due to size-limit regulations .

Meanwhile, tilapia and red tilapia exports surged 138 %, totaling US $19 million, though still modest in scale. Shellfish (both shelled and cephalopods) showed strong growth: US $216.4 million (+18 %), US $83.1 million (+82 %), and crab exports at US $112.1 million (+50 %), spurred by high demand from China and ASEAN.

Geographic Performance

• China led with US $709.8 million (+56 %), including April exports of US $182.3 million (+29 %), mainly in shrimp, crab, and shellfish aimed at the high-end segment.

• Japan imported US $536.6 million (+22 %), supporting value-added seafood products.

• EU and South Korea saw respective gains of US $351.5 million (+17 %) and US $264.1 million (+15 %), helped by EVFTA tax incentives.

• USA imports totaled US $498.4 million (+7 %), but April saw a 15 % decline (US $120.5 million) after retaliatory tariffs created disruptions.

• ASEAN demand rose 25 % to US $218.8 million; Middle East slowed by 8 % amid softer consumption .

Challenges & Strategic Responses

U.S. anti-dumping tariffs—up to 46 %—on key items like pangasius and shrimp have put pressure on exports, pushing U.S. importers toward alternatives such as India and Ecuador. Strict technical barriers also reduce Vietnam’s competitiveness .

However, CPTPP, EVFTA, and other FTAs help offset these pressures by opening up alternative markets in the EU, Japan, and ASEAN. Vietnamese firms are increasingly focusing on value-added products and market diversification to reduce reliance on the U.S.

Source: thuongtruong.com.vn