Vietnam’s seafood exports surge to USD 2.45 billion in Q1

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood exports totaled USD 2.45 billion in Q1, a 26% year-over-year increase. March alone contributed USD 889 million, up nearly 20%, indicating sustained momentum even as growth began to level off compared to earlier months.

Shrimp and pangasius remain key drivers

Shrimp exports led the way, reaching USD 931.6 million in Q1, up 35.7%, with USD 327 million in March alone (+20.4%). The growth was driven by strong demand from China (post-Lunar New Year), the United States, and the EU, supported by favorable trade deals like the EVFTA.

Pangasius (basa) exports followed with USD 465 million, rising 13%, backed by stable input costs and a push for value-added products. However, its growth pace lagged behind shrimp, reflecting softer market demand in early 2025 amid geopolitical tensions and U.S. anti-dumping measures.

While Vietnamese shrimp sustained upward momentum, exporters still face fierce competition from Ecuador and India, both benefiting from cost and scale advantages.

Notable gains were also seen in exports of crab, swimming crab, and bivalve mollusks. Crab-related products surged to USD 86.4 million in Q1, up 66%, largely fueled by a spike in demand from China during the Lunar New Year. Bivalve mollusks (clams, mussels, oysters) soared 115% to USD 64.9 million, showcasing the growing potential of these niche segments in diversifying Vietnam’s seafood export portfolio.

However, growth in these categories began to taper in March, with crabs rising 27.9% and bivalves 89.7% year-over-year.

Tuna faces regulatory headwinds

Tuna was the only major product to post a decline in March, down 0.7% to USD 83.3 million. Despite that, Q1 exports still rose 3.6% to USD 222.7 million. The slowdown was largely due to stricter IUU (Illegal, Unreported and Unregulated) fishing regulations, particularly size requirements (minimum 0.5 meters), which tightened raw material supply.

Further compounding the challenge is the U.S. Marine Mammal Protection Act (MMPA), a significant regulatory hurdle for Vietnamese tuna. The U.S. National Oceanic and Atmospheric Administration (NOAA) has issued a preliminary decision denying equivalency recognition for Vietnam’s seafood sector. Unless Vietnam complies with NOAA requirements in time, its seafood could face a U.S. import ban beginning January 1, 2026.

VASEP has voiced concerns that without prompt corrective action, Vietnamese tuna could lose market share in the U.S., potentially triggering a domino effect impacting other wild-caught seafood such as squid and octopus.

“In 2025, the Vietnamese seafood industry must continue to tackle trade challenges such as the MMPA, the EU’s IUU yellow card, and potential tariff hikes from the U.S. under its new administration,” said VASEP.

VFM