Vietnam seafood exports rise 12.8% in H1, China leads growth

In June alone, export turnover reached nearly US$1.1 billion, up 21% from a year earlier, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). The performance reflects recovering global consumption demand and Vietnamese firms’ efforts to adjust product structures and diversify export markets.

China and Hong Kong remain key growth driver

Mainland China and Hong Kong continued to serve as the main engine of growth for Vietnam’s seafood exports. Shipments to these markets generated US$256.6 million in June, up 32.2% year on year, bringing total six-month exports to around US$1.5 billion, a 37.9% increase. The markets now account for 25.8% of Vietnam’s total seafood export value.

Rising demand for shrimp, pangasius, lobster, molluscs and frozen seafood helped offset weaker performance in traditional markets.

Exports to the United States hit US$195.3 million in June, up 48.3% year on year. However, six-month cumulative exports stood at US$897.9 million, largely unchanged from a year earlier, indicating that recent gains were driven mainly by short-term orders rather than a sustained recovery in demand.

Performance across other key markets was mixed. Exports to the Republic of Korea rose 9% to US$419.4 million, while ASEAN markets increased 15.8% to US$380.2 million. Shipments to other destinations climbed 17.1% to around US$1.1 billion.

Japan edged up 0.7% to US$787.5 million, while exports to the EU slipped 0.8% to US$536.7 million. The Middle East market remained broadly flat.

Shrimp and pangasius - core export drivers

Shrimp continued to be Vietnam’s largest seafood export, generating US$2.3 billion in the first half of 2026, up 13.6% year on year and accounting for 40.5% of total seafood export value. In June alone, shrimp exports brought back US$445.9 million, up 20.7%.

Growth in the shrimp segment was supported mainly by strong demand from China and Hong Kong, particularly for black tiger shrimp, lobster, frozen shrimp and premium consumer segments.

Pangasius maintained its position as the second-largest export product, with turnover reaching US$1.1 billion in the first half, up 12.1% year on year and accounting for 19.4% of total exports.

Competitive pricing, stable supply and flexible processing capacity helped sustain demand across multiple markets, particularly as global consumers remained cautious in spending.

Other seafood segments also recorded strong growth. Tuna exports rose 28% to US$85.9 million, squid and octopus increased 26.5% to US$77.9 million, crab and other crustaceans surged 55.1% to US$45.3 million, while shellfish recorded the strongest growth, jumping 77.8% to US$31.3 million.

US pressure and logistics costs remain key risks

Despite positive overall growth, the industry continues to face significant headwinds.

In the shrimp segment, exporters are under increasing pressure in the US market due to intense competition from Ecuador, Indonesia and India, which benefit from lower production costs and large-scale supply chains.

Vietnamese firms also face regulatory burdens, including anti-dumping and countervailing duties, the Seafood Import Monitoring Program (SIMP), the Marine Mammal Protection Act (MMPA), and strict traceability requirements, all of which add to compliance costs.

For pangasius exporters, rising feed costs, raw material prices, logistics expenses and ongoing trade reviews in the US are key challenges.

In addition, global shipping costs continue to pose a major constraint. Container freight rates are approaching their highest level in nearly two years, driven by higher fuel surcharges, insurance costs, shortages of refrigerated containers and congestion at major ports.

According to VASEP, Vietnam’s seafood exports of nearly US$5.8 billion in the first half provide a solid foundation for the industry to target double-digit growth for the full year 2026.

Seafood exports poised to rise by US$1 billion this year

Vietnam’s seafood exports are projected to increase by about US$1 billion in 2026 compared to 2025, driven by recovering global demand and businesses’ efforts to adapt to changing market conditions.