As tariff uncertainties in the US rise and EU’s technical barriers tighten, Vietnam’s seafood sector is under mounting pressure. Identifying alternative “safe haven” markets is crucial to weather upcoming challenges and maintain export momentum.
Pangasius sees strong recovery despite US tariffs – Shrimp exports drop
According to Vietnam Customs, pangasius exports in June 2025 reached USD 194 million, a 13% increase YoY. The US market notably rebounded with USD 34 million, up 23%. Despite higher tariffs, Vietnam’s pangasius retains a near-monopoly position with minimal foreign competition.
In contrast, shrimp exports to the US plummeted. Overall seafood exports to the US dropped by 26.5% in June, with shrimp falling by 37% due to heavy tariff impacts.
EU – A “Safe Haven” for Vietnamese Shrimp
In H1 2025, shrimp exports to the EU exceeded USD 252 million, up 16% YoY, representing 12% of Vietnam’s total shrimp exports. Major EU markets saw double-digit growth: Germany (24%), Belgium (31%), and France (nearly 20%).
Whiteleg shrimp led the growth with USD 206 million in exports. Processed shrimp reached USD 97.4 million, while fresh/frozen lines hit USD 108.7 million. Other processed shrimp surged 50%, signaling rising demand for high-value, convenient seafood products.
According to analyst Kim Thu (VASEP), exporters must meet EU’s strict technical standards and ensure traceability, with certifications like ASC, GlobalG.A.P, and Organic being key.
Seafood Faces Hurdles in Both US and EU
Tuna exports dropped to USD 67 million in June 2025, down 21% YoY. Exports to the US alone fell 41% as companies paused shipments to avoid retaliatory tariffs. Still, the US remains Vietnam’s top market with USD 184 million in H1 2025, or 39% of total tuna export value.
In the EU, June tuna exports hit just USD 16 million, down 17%. Challenges like the EU’s IUU “yellow card”, weak Southern European economies, and high logistics costs continue to impact demand.
The EVFTA’s 11,500-ton duty-free quota is also losing effect. Previously, 80–100% of Vietnamese tuna qualified. Now, that figure has dropped to 30% due to documentation and origin compliance issues.
CPTPP & East Asia – Emerging “Safe Havens”
Tuna exports to CPTPP countries reached USD 62 million in H1, up 11%. Japan and Canada posted strong increases of 24% and 15%, respectively. Analyst Nguyen Ha (VASEP) suggests CPTPP and East Asia could be ideal destinations amid US and EU market pressures.
VASEP advises exporters to diversify market access, focusing on Japan, South Korea, Thailand, and other CPTPP members. Additionally, businesses must invest in transparent traceability systems and high-quality sourcing to meet stringent standards from major markets.
Source Vneconomy
