Shrimp exports see biggest growth in 3 years

The increase was fueled by recovering demand in China, the U.S., the EU and markets within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as well as Vietnamese businesses’ ability to adapt to the changing market, according to the Vietnam Association of Seafood Exporters and Producers.

Giant freshwater prawns. Photo by Viet Hiep

Exports to China and Hong Kong brought in $966 million, up 65% year-on-year and accounting for nearly 30% of the total.

However, rapidly rising inventories in these markets may cause imports to slow in the fourth quarter of this year and early 2026.

Shipments to the U.S. grew 4% to $587 million as exporters remained cautious about potential anti-dumping tariffs.

Many businesses are shifting their focus to the EU and other Asian markets to diversify and reduce risk. Exports to the EU totaled $434 million, an increase of 21%.

The CPTPP bloc accounted for nearly $941 million of shrimp exports, up 34%. Japan led the group at $426 million thanks to stable demand for convenient and sustainably processed products.

Shipments to other Asian markets like South Korea and Taiwan also saw strong growth, but those bound for Canada and Russia showed signs of stagnation.

The association forecast that shrimp exports might ease slightly in the final quarter as shipments to the U.S. might face challenges. However, stricter controls on Indonesian exports and Ecuador’s focus on China could reduce competition elsewhere and create favorable conditions for Vietnamese shrimp in the EU, Japan and South Korea.

The association said prospects for exports to the EU would remain positive through the year-end festive season and into 2026. It noted that the industry could continue to expand market share by adapting swiftly to market trends and strengthening the national seafood brand.

While abundant global supply and cooling prices might slow growth, Vietnam’s advantages under the EVFTA, along with its strong processing capacity and export experience, would position it well to sustain momentum.