According to the VASEP, Vietnam’s seafood exports in the first 4 months of 2025 recorded a strong recovery, reaching a turnover of 3.3 billion USD. This is an increase of 21% compared to the same period in 2024. In April alone, the export value was 850.5 million USD, an increase of 10%.
Shrimp continues to be the key product, contributing 1.27 billion USD in the first 4 months of the year, an increase of 30% compared to the same period last year. This growth comes from strong demand in major markets such as China, the EU, and Japan, along with the gradual recovery of shrimp prices due to the global supply-demand rebalancing.
Catfish, with a turnover of 632.7 million USD (up 9%), maintains its important position but shows slow growth. Especially in April, it only reached 167.7 million USD, unchanged compared to the same period last year.
Tuna had a decline in April to 76.1 million USD, down 12%. However, it increased slightly by 1% in 4 months (reaching 304.2 million USD).
Seafood exports in the first 4 months reached 3.3 billion USD.
In contrast, items like tilapia and red tilapia saw explosive growth (138%, reaching 19 million USD). Exports of mollusks and crabs were 216.4 million USD (up 18%) and 83.1 million USD (up 82%), respectively, thanks to high demand from China and ASEAN.
Regarding the export market, China and Hong Kong were the leaders, with 709.8 million USD in 4 months, an increase of 56%, mainly due to the demand for shrimp, crabs, and mollusks for the high-end segment.
Japan ranks second with 536.6 million USD in 4 months, up 22% thanks to the growth of value-added products.
In addition, the EU and South Korea also show potential with respective trade values of 351.5 million USD (up 17%) and 264.1 million USD (up 15%), particularly thanks to preferential tariff policies from the EVFTA.
For the US market, seafood exports only reached 498.4 million USD (up 7%), ranking third. But in April, they dropped by 15%, down to 120.5 million USD. This decline reflects the impact of the current countervailing duty policy.
The VASEP forecasts that in the next two months (May and June 2025), Vietnamese seafood exports will have significant moves before the new countervailing duty policy takes effect on July 9, 2025. Vietnamese businesses will focus on boosting exports to the US, especially key products like shrimp and catfish, before the new tariffs increase costs.
On the contrary, seafood exports to China and Southeast Asian countries may slow down due to Chinese products shifting towards the domestic market as well as the ASEAN market. The EU and Japan can maintain stable growth (around 8-10%), thanks to the advantages of free trade agreements, but this is not enough to offset the slowdown in China and ASEAN.
According to the Ministry of Agriculture and Environment, the total seafood export turnover in 2025 could reach 10.5 billion USD, but this depends on the adaptability of businesses to the US policies and their flexibility in diversifying markets.