HANOI: Vietnam’s fishery exports continues to grow, keeping the industry on track to achieve its target of around US$12.5bil in export revenue this year.
However, experts have warned that growth is likely to slow in the coming months as demand weakens in key markets and trade barriers become more challenging.
According to the Vietnam Association of Seafood Exporters and Producers (Vasep), seafood exports reached nearly US$1.02bil in July, up 4.8% year-on-year (y-o-y).
The figure in the first seven months of 2026 hit nearly US$6.78bil, an increase of 11.5% compared to the same period last year.
Shrimp remained Vietnam’s largest currency earner, generating nearly US$2.78bil during the January to July period, accounting for about 41% of the country’s total seafood export value.
However, Vasep noted that export growth slowed in July, indicating intensifying competition in global markets.
While lobster shipments to China remain a major growth driver, Vietnamese whiteleg and black tiger shrimp are facing stronger competition in traditional markets such as the United States, the European Union (EU) and Japan.
One of the biggest challenges comes from Ecuador, which has expanded not only its supply of raw shrimp but also its processed products, directly competing with Vietnam in the value-added segment.
Vietnamese shrimp exporters are also under additional pressure in the US market after the Office of the US Trade Representative imposed an additional 12.5% tariff under Section 301, compared to 10% applied to several competing suppliers, including Ecuador, India and Indonesia.
Industry representatives said the tariff gap, although relatively small, could significantly affect low-margin frozen shrimp exports, forcing Vietnamese exporters to share part of the additional tax burden with US importers in order to maintain market share.
Despite these challenges, shrimp exports are expected to benefit if demand from China remains strong and Vietnamese processors continue securing orders for value-added products from Japan and the EU.
Meanwhile, tra fish exports showed signs of slowing after strong growth in July, when turnover fell 6.1% y-o-y to nearly US$184mil.
Vasep attributed the decline mainly to lower purchasing demand in several major markets.
Nevertheless, the sector still has opportunities to expand its presence in the global whitefish market.
Limited fishing quotas, rising production costs and supply uncertainties for species such as Atlantic cod, haddock and Alaska pollock have prompted some European processors to consider tra fish as an alternative for processed seafood products.
In addition, the EU’s mandatory implementation of the Catch (electronic catch certification) system since the beginning of 2026 has increased compliance costs for wild-caught seafood, creating a relative advantage for farmed pangasius if exporters can meet increasingly stringent requirements on traceability and sustainability.
However, Vietnamese seafood exporters continue to face higher standards in environmental protection, sustainable certification and supply chain transparency.
The EU’s “yellow card” warning on illegal, unreported and unregulated fishing also continues to affect the industry’s reputation.
China, including Hong Kong, remained the fastest-growing market for Vietnamese seafood during the first seven months of the year, with export turnover rising 34.5% y-o-y to nearly US$1.74bil. — Viet Nam News/ANN
