VASEP statistics show Vietnam earned nearly $940 million from shrimp exports in the first quarter of the year, a 37% year-on-year increase. The high growth was driven by strong demand from major markets, including China, the United States, the European Union, Japan, and the Republic of Korea.

China, Vietnam’s largest shrimp market, saw exports soar 125% to US$288 million, while the US, the second largest buyer, imported US$124 million worth of shrimp, up 11%.

VASEP attributes the strong performance partly to a temporary 90-day suspension of a 46% reciprocal tariff by the Trump administration, which has allowed momentum to continue into April and possibly May, as American importers are stockpiling shrimp ahead of potential policy changes.

However, challenges loom in the second half of 2025. Shrimp exports are expected to slow in Q3 due to rising inventories in the US and uncertainty over future tariffs on shipments arriving after May 20.

In addition, there are two ongoing trade remedy cases, one for anti-dumping and another for countervailing duties, along with stricter traceability and quality standards, which are pushing up compliance costs.

The product also faces tough competition from Ecuador, Indonesia, and India, with Ecuador maintaining a cost advantage due to its geographic proximity to the US and leading global export volumes.

Despite a strong start, Vietnam’s shrimp industry faces a tough road ahead to meet its ambitious US$4 billion export target for 2025.

To reach this goal, the Ministry of Agriculture and Environment (MoAE) urges shrimp producers to invest in processing technology, meet international standards, and build a sustainable national brand. It also encourages firms to leverage international trade shows, like the Seafood Expo Global 2025, which significantly boosted Q1 results.

Currently, Vietnam is accelerating negotiations with the US to lower reciprocal tariffs and is actively utilising free trade agreements to diversify its export markets. The MoAE also emphasises the need for better supply chain transparency and increased imports from the US to help offset bilateral trade tensions.

Shrimp exports to UK see upswing in January

VOV.VN - Vietnamese shrimp exports to the UK in January edged up by 8% year on year to reach more than US$16 million, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).