A broad-based rebound in global demand helped seafood exports post a robust performance in 2025, comfortably surpassing targets set at the start of the year.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), export turnover exceeded $11.3 billion in 2025, up 13 per cent on year. Shrimp remained the largest export earner at $4.65 billion, rising 20 per cent from 2024, while lobster exports more than doubled to $817 million, reflecting strong demand across major markets.
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| Photo: Hoang Oanh |
Basa fish ranked second, with exports reaching $2.19 billion, an 8 per cent rise. Other marine fish took in $2.16 billion, up 12 per cent, supported by diversified markets. By contrast, tuna exports declined due to prolonged raw material shortages and tighter regulations related to illegal, unreported, and unregulated (IUU) fishing.
Exports to the United States reached nearly $1.9 billion in 2025, up just 3 per cent amid policy uncertainty, tariff risks, and technical barriers. Growth elsewhere helped offset the slowdown, with China (including Hong Kong), the EU, and markets under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) emerging as key drivers.
Exports to CPTPP markets and the EU both posted double-digit growth, reaching more than $3 billion and $1.2 billion, respectively. China (including Hong Kong) recorded the strongest increase, up 29 per cent to $2.45 billion, driven by demand for live lobster, crab, shellfish, and clams.
VASEP attributed the sector’s performance to exporter flexibility and effective market timing amid global volatility. A tightening global supply following a period of low prices also helped lift demand.
Looking ahead to 2026, VASEP cautioned that market conditions remain uncertain. US trade policies and technical barriers may continue to prompt exporters worldwide to diversify markets, intensifying competition in the EU, China, ASEAN, and the Middle East. The unresolved IUU yellow card remains a key constraint on access to Western markets.
For basa fish, analysis by Mirae Asset Securities forecasts improved consumption in the United States and stable demand in China. Exports to the EU and Brazil are expected to remain steady in 2026, though competition may intensify as global exporters gradually shift away from the US market.
