VASEP reported that this achievement marks a 13% increase for Vietnam's seafood industry compared to 2024. Key products experienced consistent growth, with shrimp maintaining the largest share, generating 4.65 billion USD, a 20% rise from 2024. Notably, lobster exports more than doubled, reaching 817 million USD.
Pangasius ranked second in export value at 2.19 billion USD, an 8% increase. Other marine fish collectively achieved 2.16 billion USD, up 12%, driven by diversified markets. Conversely, tuna exports declined due to a prolonged raw material shortage and strict illegal, unreported and unregulated fishing (IUU) regulations.
In 2025, seafood exports to the US market reached nearly 1.9 billion USD, increasing by only 3% compared to 2024, attributed to policy instability and technical barriers. However, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) helped make China (including Hong Kong) and the EU key markets for Vietnamese seafood products.
Export turnover to CPTPP markets and the EU both saw double-digit growth, exceeding 3 billion USD and 1.2 billion USD respectively. China (including Hong Kong) recorded the strongest growth, up 29% and bringing in 2.45 billion USD. This market particularly favors fresh lobster, crab, clams, and scallops.
VASEP stated that last year's export target was met due to businesses' flexibility and their ability to capitalize on market opportunities and sentiment amidst various uncertainties. Additionally, after a period of significant decline and low prices, the market entered a supply shortage phase, leading to a rebound in prices and demand.
Forecasting the situation for 2026, the association anticipates continued market instability and unpredictability. US tariffs, trade policies, and technical barriers may continue to make global exporters cautious and prompt them to shift markets.
This trend creates intense competition in other markets such as the EU, China, ASEAN, and the Middle East. Furthermore, the IUU "yellow card" remains a critical issue that needs resolution to further open doors to Western markets.
Regarding pangasius, a recent analysis by Mirae Asset Securities anticipates improved consumption for this product in the US and stable demand in China. Pangasius exports to the EU and Brazil are projected to remain stable throughout 2026 but may face intense competition as global exporters gradually divert from the US market.
Dy Tung
