HCM City (VNA) - Vietnam’s aquatic exports showed strong growth in the first seven months of 2025 despite global disruptions and increasing tariff pressures thanks to businesses’ efforts to adopt flexible strategies to maintain competitiveness in key markets.
Strong growth before tariff deadlines
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood exports fetched 971 million USD in July, up 6.1% year-on-year. This raised the figure in the first seven months to 6.22 billion USD, marking a robust 17.2% increase. Shrimp took the lead with 2.49 billion USD, while pangasius brought home 1.22 billion USD, a rise of 11.1%. Tuna exports declined by 2.8% in the seven months, with a sharper 19% drop in July.
Le Hang, VASEP’s Communications Director, attributed seven-month export growth largely to shipments rushed before the US imposed reciprocal tariffs starting August. Exports to the US rose 10.4% year-on-year for seven months but fell nearly 20% in July. The US tariff on Vietnamese seafood is currently 20%, less than India’s 25% but higher than other competitors like the Philippines and Indonesia. Additional anti-dumping duties on frozen shrimp could raise the total tariff burden above 53%, she said.
In contrast, shipments to China surged by 31.7% in July and 42.6% over seven months, fuelled by demand for shrimp and squid. Vietnamese exporters are pivoting to high-growth markets and leveraging trade agreements like the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) for preferential tariffs. Japan, the EU, the Republic of Korea, and ASEAN markets also posted gains due to competitive pricing and stable supply.
Navigating tariffs, seizing opportunities
VASEP advisor Truong Dinh Hoe noted that US tariffs mainly affect frozen shrimp, while value-added processed shrimp remains tariff-free. Firms are encouraged to expand in processed shrimp and explore Asian, European, and CPTPP markets like Japan, where demand is strong.
Vietnam retains a leading position in pangasius exports to the US, bolstered by a recent zero anti-dumping duty ruling for major exporters. Nonetheless, new duties and stockpiling in China urge diversification toward ASEAN, South America, and the Middle East.
Despite expected hurdles in late 2025, markets such as China, ASEAN, and Japan show recovery signs, and the EU is easing technical barriers. These trends favour growth in high-value processed seafood, supported by trade agreements like EU-Vietnam Free Trade Agreement (EVFTA), CPTPP, and UK-Vietnam Free Trade Agreement (UKVFTA).
Vietnam’s total seafood exports for 2025 are forecast at 9–9.2 billion USD, slightly below the 10 billion USD target, with shrimp at 3.6–3.8 billion USD, pangasius 1.8 billion USD, tuna 850–900 million USD, and other seafood products close to 3 billion USD. Success depends on securing raw materials, quality improvements, technology investment, and market diversification.
To Thi Tuong Lan, Deputy Secretary General of VASEP, highlighted efforts to expand into CPTPP, ASEAN, and Asian niche markets, as well as promising regions like South America and the Middle East. To support this, VASEP will host Vietfish 2025 from August 20–22 in Ho Chi Minh City. The event features nearly 530 booths from 280 enterprises and 17 national pavilions from major seafood economies, providing a key platform for trade, innovation, and cooperation./.
VNA
