Price fluctuations were mainly driven by supply-demand factors, demand from the United states and the EU, and rising input costs, which resulted in record-high prices in many farming areas such as Ca Mau.

Pangasius prices in 2025 showed an upward trend with strong volatility due to tight supply, especially at the beginning and the end of the year. This caused raw fish prices to peak at certain times at over VND32,000/kg, while fingerling prices also surged sharply, reaching VND55,000–58,000/kg in October 2025. This led to higher input costs for farmers and increased pressure on export prices, although there were periods when prices cooled as supply recovered.

Calculations based on data from the Vietnam customs authority showed that Vietnam’s seafood imports in November 2025 reached nearly USD292.78 million, down 3.35% compared with October 2025. In the first 11 months of 2025, seafood imports amounted to over USD3.02 billion, up 29.68% year on year.

During the first 11 months of 2025, Vietnam imported USD1.11 billion from FTA RCEP markets, USD523.87 million from FTA CPTPP markets, and USD507.72 million from Southeast Asia, increasing by 27.21%, 34.88% and 39.62%, respectively, compared with the same period of 2024.

In the first 10 months of 2025, India continued to be the leading supplier of seafood, accounting for 15.42% of Vietnam’s total seafood import value, reaching over USD466.17 million, up as much as 97.69% year on year. However, in November 2025 alone, seafood imports from india increased only slightly by 3.49% compared with October 2025, reaching nearly USD51.71 million.

Indonesia ranked second, with seafood import value from this market reaching USD423.87 million in the first 11 months of 2025, accounting for 14.02% of the total and increasing by 48.62% year on year. However, imports from this market in November 2025 declined by 13.6% to only USD36.64 million.

Accounting for 11.21% of Vietnam’s total seafood import value in the first 11 months of 2025, norway ranked after India and indonesia, with import value exceeding USD338.76 million, up 22.31% year on year. Imports from this market reached nearly USD47.96 million in November 2025, up 57.14% compared with October 2025.

Vietnam also boosted seafood imports from Japan, with import value increasing by 43.54% in the first 11 months of 2025 to over USD271.98 million. However, in November 2025 alone, import value declined by 14.45% to USD22.09 million.

Table: Seafood  imports of Vietnam in the first 11 months of 2025
(Calculated based on data released on 10 December 2025 by the Vietnam customs authority)
unit: USD

Source: Vitic, calculated from data of the Vietnam Customs authority

The United states and Russia were the two markets ranking at the bottom of the group of seafood imports valued at over USD100 million in the first 11 months of 2025. Import value from the United states surged by 81.76% to over USD111.46 million, while imports from Russia declined slightly by 7.13% to over USD101.36 million.

Among markets with seafood import value in the tens of millions of USD in November 2025, the Philippines stood out with an increase of 128.12% to USD3.31 million, bringing total imports in the first 11 months to nearly USD39.65 million, up 11.84% year on year. Denmark ranked last in the table, with import value rising by 184.63% in November 2025 to nearly USD1.9 million, lifting total imports in the first 11 months of 2025 to USD19.24 million, up as much as 122.74% year on year.

Calculations based on data from the Vietnam customs authority showed that Vietnam’s seafood exports in November 2025 reached nearly USD989.8 million, down 14.61% compared with October 2025.Cumulatively in the first 11 months of 2025, seafood exports generated nearly USD10.32 billion, up 12.53% year on year.

Seafood exports to FTA RCEP markets in the first 11 months of 2025 increased by 17.2% year on year, reaching over USD5.41 billion and accounting for 52.46% of total seafood export value. In November 2025 alone, exports to this market reached USD544.56 million, down 12.14% from the previous month.

Exports to FTA CPTPP markets rose by 7.23% year on year to over USD2.78 billion, accounting for 26.98% of total export value. exports to the EU accounted for 15.09% of total export value, reaching over USD1.03 billion, up 11.62%. Exports to southeast asia reached nearly USD659.14 million, up 15.51% year on year and accounting for 6.39% of total export value.

China (mainland), the United states and Japan remained the three largest seafood export markets of Vietnam in the first 11 months of the year, accounting for a combined 52.52% market share, with total export value to these three markets reaching USD5.42 billion. exports to china increased by 31.93% to nearly USD2.08 billion, exports to the United states rose by 6% to over USD1.78 billion, and exports to Japan increased by 10.3% to nearly USD1.56 billion. In November 2025 alone, export value to these markets reached nearly USD195.9 million (-22.27%), USD138.74 million (-38.67%) and USD161.51 million (-1.2%), respectively.

Table: Seafood exports of Vietnam in the first 11 months of 2025
(Calculated based on data released on 10 December 2025 by the Vietnam Customs authority)
unit: USD

Source: Vitic, calculated from data of the Vietnam customs authority
Source: Vitic