HANOI: 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.
However, alongside these opportunities, exporters are facing mounting challenges related to technical standards and compliance costs.
Nguyen Hoai Nam, Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), said seafood export turnover reached nearly US$4 billion in the first four months of this year, up more than 14 per cent year-on-year.
Exports in April alone were estimated at around US$947.8 million, bringing the cumulative total to about US$3.6 billion, an increase of 11.9 per cent.
According to Nam, if the current growth momentum is maintained and existing bottlenecks are effectively addressed, Vietnam’s seafood exports could reach approximately US$12.3 billion in 2026, about US$1 billion higher than the US$11.3 billion recorded in 2025.
Most product categories posted positive growth, although performance varied across segments.
Shrimp and pangasius remained the key export products, while tuna exports declined by around six per cent, reflecting pressure from international markets and stricter import regulations.
China continued to be a major growth driver, with seafood exports to mainland China and Hong Kong surpassing US$1 billion in the first four months of the year, marking a strong increase compared to the same period last year.
Japan maintained stable growth, while exports to the US fell by about six to seven per cent, mainly due to trade policies and ongoing trade remedy cases.
Nam noted that the decline in the US market is likely temporary and primarily linked to technical barriers rather than weakening consumer demand.
According to VASEP, major markets such as the US and the European Union (EU) are continuously introducing new regulations related to environmental protection, traceability and social responsibility.
In the EU, new requirements on supply chain due diligence oblige businesses to assess their entire production chain against sustainability criteria.
Meanwhile, the continued maintenance of the EU’s yellow card warning on Vietnam’s seafood exploitation activities remains a significant burden on exporters.
In the US, anti-dumping investigations, anti-subsidy cases and other trade defence measures have become increasingly complex.
Nevertheless, Nam said close coordination between authorities and businesses has helped secure favourable outcomes in several cases, reducing applicable tariff rates.
Domestically, seafood enterprises are also under pressure from rising compliance costs.
VASEP representatives noted that companies are currently required to invest simultaneously in their own environmental treatment systems while also contributing to centralised industrial-zone systems, significantly increasing production costs.
The association suggested these overlapping requirements be reviewed and adjusted.
In addition, inconsistencies among regulations across different sectors, particularly concerning procedures and documentation, continue to create operational difficulties for businesses.
To sustain long-term growth, Nam emphasised the need to focus on two key solution groups.
The first is improving policies and the business environment to ensure regulatory consistency and reduce compliance costs.
The second is strengthening dialogue between regulators and businesses, including regular consultation mechanisms to promptly resolve emerging issues.
The association also stressed the importance of accelerating the application of science and technology, particularly in traceability systems, deep processing and seed development.
At the same time, stronger links between production, processing and distribution chains, along with the development of stable raw material areas, will be essential.
Nam said with market drivers and support policies increasingly taking effect, the seafood industry’s goal of adding another US$1 billion in export value is achievable.
As international standards become increasingly stringent, Nam emphasised that proactive adaptation and enhanced competitiveness will be decisive factors in sustaining long-term growth and strengthening the global position of Vietnamese products. — Vietnam News/ANN
