By the end of November 2025, Vietnam’s pangasius export turnover exceeded USD 2 billion, up 9% year-on-year. The results reflect a steady recovery of the sector, alongside increasing divergence among key export markets.
China remains the leading growth driver
In November alone, pangasius exports reached USD 195 million, up 9%. China remained the largest market with nearly USD 59 million in export value, representing a 17% increase and accounting for around 30% of total pangasius exports.
Declines in the US and EU
Exports to the US fell sharply to USD 20 million in November, down 23% year-on-year, largely due to the 20% retaliatory tariff, which has eroded price competitiveness. The downward trend has persisted since August.
EU exports reached USD 12 million, down 25%, with declines mainly driven by the Netherlands (-18%) and Germany (-20%). However, several smaller EU markets showed modest growth, indicating intra-bloc potential.
CPTPP and emerging markets show growth potential
Within the CPTPP bloc, exports to the UK totaled USD 5 million, down 4% but showing early signs of recovery. Mexico stood out with USD 8 million in exports, up 50%. Japan and Malaysia recorded stable growth of around 2%.
Brazil reached USD 15 million in November, up 13%. Over the first 11 months, exports to Thailand rose 24%, Egypt 33%, and Russia 45%, though these markets still represent a relatively small share of total exports.
Product structure highlights
From January to November 2025, pangasius fillets (HS0304) generated over USD 1.6 billion, up 11% and accounting for the largest share. Other frozen and whole pangasius products reached nearly USD 348 million, while processed pangasius (HS16) rose 13% to USD 48 million.
Outlook for 2026
Looking ahead to 2026, the continued impact of US tariffs is expected to weigh on exports. This underscores the need for Vietnamese enterprises to diversify markets, expand value-added processing, and strengthen sustainability certifications to enhance long-term competitiveness.
