Vietnam’s seafood exports have shown a strong rebound in the first five months of 2025, driven by stable global demand and proactive shipment strategies ahead of the potential tariff hike from the U.S. Among key products, shrimp continues to lead growth, while pangasius, tuna, and squid/octopus also recorded steady performance.
Shrimp – the Key Growth Driver
As of the end of May 2025, Vietnam’s seafood export value reached approximately USD 4.2–4.3 billion, representing a year-on-year increase of 18–22%. In April alone, exports reached nearly USD 1 billion (+30% YoY), and May maintained a high level of USD 850–997 million.
Shrimp remains the top-performing product, with export turnover for the five-month period reaching USD 1.66–1.71 billion (+28–32%). In May alone, shrimp exports hit USD 415 million, the highest monthly figure since early 2025. Strong market demand kept export prices high, with vannamei shrimp to the U.S. fetching around USD 10.9/kg.
Pangasius and Other Species Show Mixed Signals
Pangasius (tra fish) exports rose by approximately 11% in the first five months compared to the same period last year. However, May saw a notable drop of –17% (USD 138 million), as exporters delayed shipments to avoid the upcoming U.S. tariff increase.
In contrast, tuna and squid–octopus continued to record modest growth, contributing to overall export stability.
Key Markets: U.S., China, and EU Remain Crucial
In May 2025, exports to the U.S. surged to USD 234 million (+61% YoY), reflecting an export push during the temporary 10% tariff window (April 9 to July 9).
Meanwhile, China – Hong Kong became Vietnam’s largest seafood import market in the first four months of 2025, with a combined import value of USD 710 million (+56% YoY), including USD 288 million from China alone (+125%). EU and South Korea also posted positive growth of +17% and +15%, respectively, supported by trade agreements such as EVFTA and CPTPP.
Forecast: Tariff Hike After July 9 Could Weigh on Exports
From April 9 to July 9, 2025, the U.S. is applying a temporary 10% countervailing duty on several Vietnamese seafood products, much lower than the anticipated 46%. This provided a strategic window for exporters to ramp up deliveries. However, the risk of a return to high tariffs post-July 9 remains a major concern.
According to VASEP, exports in the next two months are expected to remain robust due to pre-planned contracts. However, in the longer term, Vietnam could lose market share to competitors such as India, Thailand, China, or Ecuador if trade conditions deteriorate.
