Vietnam’s seafood export industry started 2025 with impressive growth. After a challenging period in previous years, the industry has bounced back with strong numbers in the first two months of the year. This article provides an overview of the key trends, major export markets, and the challenges ahead.
Overview of Vietnam’s seafood exports
In the first two months of 2025, Vietnam’s seafood exports recorded significant growth. The total export turnover reached $1.423 billion, an increase of 18.2% compared to the same period last year.
February 2025 alone saw exports worth $655.197 million, marking an impressive 42.6% growth from February 2024. This growth was driven by the recovery of key seafood products and improved global demand.
|
Product
|
Feb 2025
|
Growth (%)
|
Jan-Feb 2025
|
Growth (%)
|
|
Shrimp
|
231.406
|
33.9
|
542.387
|
30.8
|
|
Pangasius (Tra Fish)
|
120.057
|
32.8
|
253.241
|
-0.8
|
|
Tuna
|
59.986
|
15.9
|
126.481
|
-3.5
|
|
Other Fish
|
150.261
|
62.1
|
302.783
|
13.6
|
|
Squid & Octopus
|
48.677
|
81.3
|
101.009
|
13.8
|
|
Shell Mollusks
|
16.424
|
128.2
|
39.089
|
121.6
|
|
Other Mollusks
|
0.685
|
315.1
|
1.430
|
8.2
|
|
Crabs & Other Crustaceans
|
27.700
|
57.1
|
62.762
|
86.1
|
|
Total
|
655.197
|
42.6
|
1,429.184
|
18.2
|
Seafood Export Revenue in February 2025 and the First Two Months of 2025 (Unit: Million USD)
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Export performance of key seafood products
After a period of fluctuating prices and demand, Vietnam’s seafood exports have shown a promising recovery. Several major seafood categories have played a crucial role in this growth, each facing its own unique market conditions and challenges. Below, we take a closer look at the performance of shrimp, pangasius, and tuna in early 2025.
Shrimp
Shrimp exports led the industry with strong growth:
- Total export value reached $542.387 million in the first two months, up 30.8% year-on-year.
- February 2025 alone recorded $231.406 million, increasing 33.9% from the previous year.
- The market rebounded after a prolonged period of low prices in 2023-2024, providing relief for shrimp farmers and exporters.
Pangasius (Tra Fish)
Pangasius exports showed a mixed performance:
- The total export value was $253.241 million, a slight 0.8% decline from the same period last year.
- However, in February 2025, the industry saw a positive shift, reaching $120.057 million, up 32.8%.
- The price of commercial pangasius reached its highest level in three years, delivering substantial profits for farmers.
Tuna
Tuna exports faced some challenges but showed resilience:
- Total export revenue stood at $126.481 million, a 3.5% decrease compared to the previous year.
- February 2025 exports reached $59.986 million, a 15.9% growth from February 2024.
- The price of frozen bigeye tuna at Toyosu Market (Tokyo) remained stable at 650 yen/kg, maintaining consistent demand in the Japanese market.
Key export markets and trends
Vietnam’s seafood industry relies on several key international markets, each with its own set of demands and competitive challenges. Understanding these trends is crucial for exporters looking to expand their reach and sustain growth in 2025.
European Union (EU)
- The EU imported 376,875 tons of fresh frozen and value-added whiteleg shrimp in 2024, a 4% increase compared to 2023.
- Vietnam witnessed a partial recovery in its supply to the EU, but competition remains fierce, especially from Ecuador and India.
U.S. and China
Imports from China and the U.S. declined in 2024.
However, other markets, including the EU and emerging regions, helped offset the decline, keeping Vietnam’s seafood exports on a positive trajectory.
Prospects and challenges ahead
Looking ahead, Vietnam’s seafood export industry faces both opportunities and obstacles. While market demand is expected to stay strong, exporters will need to navigate shifting global trade dynamics and increasing competition. Let’s explore the potential growth areas and key challenges that lie ahead.
Growth prospects
Vietnam’s seafood sector is riding a wave of optimism in 2025. Shrimp exports, in particular, are expected to shine, fueled by a steady rebound in global demand. With import prices climbing since October 2024, the trend is set to stay strong throughout the year, giving Vietnamese exporters a well-deserved boost. This could be a golden opportunity for businesses to expand their market share and capitalize on high-value seafood products.
Challenges
However, the road ahead isn’t without obstacles. Fierce competition from major seafood giants like Ecuador and India means Vietnam must stay ahead of the game. To thrive in this dynamic market, the industry must focus on innovation, invest in value-added products, and explore untapped markets. Diversification and strategic branding will be the keys to standing out in an increasingly crowded seafood landscape.
Conclusion
Vietnam’s seafood export industry has started 2025 on a strong note, driven by robust shrimp and pangasius exports. While challenges remain, including tough competition and market fluctuations, the industry has promising growth prospects. To sustain its success, Vietnam must continue to innovate, enhance product quality, and explore new markets.
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