Vietnam’s seafood exports recorded an impressive rebound in the first quarter of 2025, reaching USD 2.45 billion, up 26% year-on-year.
In March alone, export value hit nearly USD 889 million, a 20% increase, showing sustained growth momentum despite early signs of slowing compared to the first two months.
Shrimp and Pangasius Lead the Growth
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Shrimp remained the top export performer, generating USD 931.6 million in Q1, up 35.7%, including USD 327 million in March (+20.4%).
The surge was fueled by strong demand from key markets such as China (post-Lunar New Year recovery), the United States, and the European Union, where FTAs like the EVFTA continue to show positive impact.
Pangasius (tra fish) also played a significant role, contributing USD 465 million (+13%) in Q1 and USD 181 million(+16.1%) in March. Stable input prices and a focus on value-added processing have helped both products retain their leading positions.
However, pangasius growth has been slower than shrimp, reflecting cooling market demand amid geopolitical instability and U.S. anti-dumping pressure.
Meanwhile, Vietnamese shrimp — despite maintaining growth — continues to face intense competition from Ecuador and India, two major low-cost producers with large-scale farming capacity.
Crabs and Mollusks Show Strong Gains but Slow Momentum in March
A notable bright spot was the crustacean and mollusk segment.
Crabs and swimming crabs reached USD 86.4 million in Q1, up 66%, driven by a surge in Chinese demand during the Lunar New Year.
Mollusks (clams, oysters, mussels) performed even more impressively, rising 115% to USD 64.9 million.
Although their total export value remains modest, the sharp growth underscores the potential of niche products to diversify Vietnam’s seafood export portfolio.
However, by March, growth began to slow — crabs up 27.9%, mollusks up 89.7% — signaling post-holiday demand cooling in major Asian markets.
Tuna: The Weak Link in an Otherwise Bright Outlook
In contrast to the overall positive performance, tuna was the only product category to record a decline in March, with export value at USD 83.3 million (-0.7%), though Q1 still showed a modest 3.6% growth (USD 222.7 million).
The decline was mainly due to stricter IUU (Illegal, Unreported, and Unregulated) regulations, including the minimum tuna size rule (0.5m), which has tightened raw material availability for export processing.
Compounding the challenge, the U.S. Marine Mammal Protection Act (MMPA) has become a major regulatory hurdle.
According to the U.S. National Oceanic and Atmospheric Administration (NOAA), Vietnam’s seafood industry has not yet been recognized as equivalent under MMPA standards.
If compliance is not achieved by January 1, 2026, Vietnamese seafood — including tuna — may face import bans from the U.S. market.
Failure to resolve these compliance gaps could lead to Vietnamese tuna losing market share in the U.S., while creating domino effects on other wild-caught seafood products like squid and octopus.
Trade Barriers Ahead
In 2025, Vietnam’s seafood sector continues to face multiple external challenges, including:
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MMPA enforcement from the U.S.
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IUU “yellow card” restrictions from the EU.
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The potential rise in U.S. tariffs under the new trade policy environment.
Addressing these issues will be critical for Vietnam to sustain its export recovery momentum while strengthening compliance with international sustainability and traceability standards.