Seafood exports reach $9.5 billion in the first 10 months
According to Vietnam Association of Seafood Processing and Export (VASEP), the first 10 months of 2025 saw significant progress in seafood exports, reaching over $9.5 billion, a 15% increase compared to the same period last year.
"This result demonstrates the industry's persistent efforts amidst a volatile market, especially policy shocks from the US market. Although the third quarter showed signs of slowing down due to impact of reciprocal tariffs, key product groups maintained strong momentum and created a foundation for full-year exports to reach $11 billion", the Vietnam Association of Seafood Processing and Export (VASEP) commented.
Among export products, shrimp continued to play a leading role, reaching over $3.9 billion in the first 10 months. Besides whiteleg shrimp and tiger shrimp maintaining stable growth, the highlight this year was lobster, a product with unprecedented breakthrough growth reaching over $712 million, an increase of 134%. This boom stemmed from the enormous demand from China and Hong Kong (China) for live shrimp, premium shrimp, especially in the HORECA culinary segment.
For pangasius, the second most important export item, export turnover reached approximately US$1.8 billion after 10 months. Notably, tilapia has become a new bright spot, with impressive growth of 220%, reaching US$62 million and is being identified as a potential strategic industry for Vietnam, with increasing demand in the US and many European countries.
Meanwhile, tuna continues to face significant pressure. Export figures for the first 10 months of the year remained at approximately US$791 million, nearly 4% lower than the same period last year due to a shortage of skipjack tuna for canning and ongoing conflicts in the Middle East disrupting the supply chain. Some businesses have had to scale back production or shift to loin products to reduce costs.
Conversely, squid and octopus group has shown a clear recovery, bringing total export turnover for the first 10 months to over US$627 million; demand in Japan, South Korea and the United States has improved significantly, especially for frozen products for processing. Fish cakes and surimi also attracted attention, reaching $291 million in the first 10 months, a 24% increase compared to the same period last year, becoming one of the fastest-growing sectors in the entire industry.
China leads in importing Vietnamese seafood.
Currently, China and Hong Kong (China) continue to be important pillars for Vietnam's seafood industry in 2025. By the end of October, export turnover to this market had exceeded US$2 billion, an increase of over 32%, particularly strong in lobster, marine fish and live crab. Demand for fresh seafood during the year-end period is opening up significant growth potential for Vietnamese businesses.
Conversely, the US market is entering a period of significant volatility. Although exports to the US in the first 10 months still increased compared to the same period last year, reaching approximately US$1.66 billion, a clear downward trend began in the third quarter due to the 20% countervailing duty applied from August. Shrimp and pangasius, which account for a large proportion of exports, both decreased in September and October as many businesses proactively adjusted their shipments to avoid losses. In addition, other challenges such as anti-dumping duties on shrimp and the MMPA regulations, expected to directly impact harvested seafood from the beginning of 2026, make the US market a "risk hotspot" for the industry.
Exports to Japan continue to recover steadily, with 10-month turnover reaching nearly US$1.45 billion, increased by strong consumption of shrimp, squid, sea fish, and pasteurized crab. EU is also a good growth market, reaching US$985 million in 10 months, benefiting from the bloc's easing of some technical barriers to Vietnamese farmed seafood. Meanwhile, exports to South Korea maintained double-digit growth at US$725 million due to high demand for squid, octopus and surimi.
CPTPP markets, especially Canada, Australia and Japan, continue to be the fastest-growing regions, demonstrating Vietnam's significant advantage in leveraging tariff preferences.

Source: Vitic/ congthuong.vn