According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s seafood export turnover totaled US$2.7 billion by the end of the third quarter, up 10% from the same period last year but lower than the first two quarters.

In the first nine months of the year, seafood exports reached US$8.36 billion, up 16% year on year, showing that the industry has maintained positive growth momentum despite mounting challenges. The slight third-quarter slowdown reflected the impact of the US reciprocal tax policy, implemented in August, which forced many exporters to adjust shipment schedules and redirect market strategies.

VASEP noted that the third quarter also exposed multiple challenges for the industry. New reciprocal tariffs from the US, coupled with stricter regulations on traceability and marine mammal protection (MMPA), are posing significant risks for export activities in the fourth quarter and into 2026.

Meanwhile, the EU’s illegal, unreported and unregulated (IUU) “yellow card” remains unresolved, limiting access for wild-caught seafood to premium markets. In addition, exchange rate fluctuations, rising logistics costs, and increasing competition from exporters such as India, Ecuador, and Indonesia continue to squeeze Vietnamese firms’ profit margins.

Despite these headwinds, several strategic opportunities are emerging. The EU has eased certain technical barriers for Vietnamese farmed seafood, opening growth potential for shrimp and pangasius. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), now expanded with the United Kingdom’s accession, is also expected to help diversify export channels and boost demand for value-added processed products.

VASEP forecasts that seafood exports in the fourth quarter of the year will decline sharply, hitting only US$2.19 billion, down over 22% due to the combined impact of US tariffs and potential anti-dumping measures on shrimp.

Shrimp and pangasius are expected to experience the sharpest slowdown, while tuna, squid, and octopus may drop further due to the IUU yellow card and MMPA-related concerns that will take effect in early 2026.

Nonetheless, steady demand from the EU and China is expected to provide key support, helping total seafood export turnover for 2025 obtain an estimated US$10.5 billion, representing a 5% increase year on year.

India increases purchase of Vietnamese seafood

VOV.VN - Vietnam’s seafood exports to the Indian market recorded a significant surge in the first seven months of 2025, making the country the second largest seafood supplier to India by volume.