Vietnam-US Seafood Trade: 30 Years in Review
2025 marks the 30th anniversary of the normalization of diplomatic relations between Vietnam and the United States (1995-2025). Along with the country's process of international economic integration, Vietnam-US seafood trade has experienced exceptionally impressive growth, from an initial scale of a few tens of millions of dollars to nearly $2 billion annually, making the United States Vietnam's number one seafood export market for many consecutive years.
According to Ms. Le Hang, Deputy Secretary General of Vietnam Association of Seafood Processing and Export (VASEP), in the late 1990s, Vietnam's seafood exports to the United States started very modestly.
In 1997, export value only reached $39 million, mainly frozen shrimp. However, the picture fundamentally changed after the two countries signed the Vietnam-US Bilateral Trade Agreement (BTA) in 2000. In that same year, seafood exports to the United States surged to nearly $300 million, ushering in a period of rapid growth lasting for more than two decades.
Next significant milestone was 2007, when Vietnam officially joined the WTO. From then on, Vietnamese seafood entered a period of strong expansion in the US market. Export turnover quickly surpassed US$700 million in 2008, exceeding US$1 billion for the first time in 2010 and remaining stable at US$1.1-1.7 billion during the 2011-2014 period.
“It can be said that the 2010-2014 period was a period of rapid growth for Vietnamese seafood in the US, when all three main product groups – shrimp, pangasius, and tuna – experienced strong breakthroughs, bringing the total turnover in 2014 to a record high of US$1.74 billion,” Ms. Le Hang informed.
Entering the 2020s, despite the severe impact of the COVID-19 pandemic and disruptions to the global supply chain, seafood exports to the United States maintained significant momentum. In 2020, turnover reached US$1.62 billion; in 2021, it surged to US$2.05 billion; In 2022, exports reached a historical peak of $2.15 billion. This was the result of a synergy between increased consumer demand after the pandemic and the rapid adaptability of Vietnamese businesses.
“After the two countries upgraded their relationship to a Comprehensive Strategic Partnership (September 2023), seafood exports were affected by inflation, high inventory levels, and the trend of tightening spending in the United States, but still maintained a very large scale: $1.56 billion in 2023, recovering to $1.82 billion in 2024 and estimated to reach nearly $1.95 billion in 2025. Compared to the starting point of only $39 million in 1997, Vietnam's seafood exports to the United States have increased almost 50 times in nearly 30 years,” Ms. Le Hang said.
In terms of product structure, shrimp has consistently been the leading product group for the past 30 years. From over $32 million in 1997, shrimp exports to this country peaked at over $1.06 billion in 2014, maintaining around $800 million - $1.05 billion in recent years and estimated to reach $814.7 million in 2025.
Pangasius (catfish) has emerged strongly since the early 2000s, especially breaking through in the period 2010 - 2018 with many years reaching $300 - $550 million. Despite strong fluctuations due to anti-dumping duties and increased compliance costs, pangasius is still expected to maintain a scale of over $330 million in 2025.
Tuna exports have shown sustained growth, from very low levels in the late 1990s to nearly $487 million in 2022, currently fluctuating between $350 - $390 million per year. In addition, product groups such as other marine fish, crabs, squid, octopus, and shellfish are increasingly contributing positively, reflecting the trend of diversifying export products.
Adapting for Sustainable Development
To overcome challenges and enter a “new era,” the Vietnamese seafood industry must prepare itself for the fluctuations of the US market, from market strategy and risk management to environmental and social standards. Improving quality, increasing transparency in the supply chain, reducing emissions, and digitizing traceability are no longer options, but have become mandatory requirements.
From a market structure perspective, Vietnam and the United States have almost no direct competition in seafood products, but rather a clear complementary relationship. Facilitating access for Vietnamese seafood to this market not only provides US consumers with more product choices but also expands opportunities for Vietnam to increase imports of soybeans and grains from the US as feed ingredients for aquaculture, thereby forming a two-way value chain.
“After 30 years, Vietnam-US seafood trade has progressed from exploratory relations to opening up, overcoming barriers, deep integration, and moving towards sustainability. In the context of bilateral relations being elevated to a Comprehensive Strategic Partnership, expectations for a stable, transparent, and long-term development phase for Vietnamese seafood in this market are becoming clearer than ever,” Ms. Le Hang emphasized.

Source: Vitic/ congthuong.vn