AsemconnectVietnam - In August of 2026, Vietnam's seafood exports reached US$1.14 billion, a 6% year-on-year increase; the eight-month cumulative total hit US$8.00 billion, up by 11.8%.

The growth pace slowed compared to the 12.8% rate recorded in the first seven months of the year. The markets in China-Hong Kong and ASEAN are offsetting weakness in the US, the EU, and, to some extent, Japan. This divergence is expected to become more pronounced in the fourth quarter as trade tariffs and traceability requirements directly impact orders.
China-Hong Kong remained the primary growth driver, with exports reaching US$287.7 million in August (up by 26.2%) and a cumulative US$2.03 billion (up by 33.4%), accounting for 25.35% of total export value. This market generated an additional US$508.61 million, representing 60.17% of the industry's total growth, fueled by demand for shrimp, pangasius, crabs, and marine fish.
In contrast, the exports to the US fell by 11.4% in August to US$167.74 million; the eight-month total stood at US$1.24 billion, remaining virtually flat. The exports of shrimp and pangasius dropped sharply, while tuna, crabs, and mollusks saw continued growth. The exports to the EU declined by 1.6% over the eight-month period to US$749.9 million, primarily due to weak performance in the shrimp and tuna sectors. The exports to Japan rose by 2% to US$1.11 billion, and those to South Korea increased by 4.9% to US$566.3 million. ASEAN stood out with US$544.9 million in exports, a 20% increase overall, with a 31% rise recorded in August alone. Shrimp exports lead the way, but pressure mounts for the fourth quarter of this year.
Shrimp exports reached $485.5 million in August, up by 5.7%; the year-to-date total hit $3.29 billion, a 12.3% increase, accounting for approximately 41% of total export turnover. The China-Hong Kong market was the primary driver, contributing $1.13 billion (up by 37.6%). In August, exports to Japan rose by 10%, South Korea by 16%, and ASEAN by 48%.
Conversely, shrimp exports to the US fell by 22% in August to $70 million, with an eight-month decline of 13.4% to $427.6 million. The exports to the EU dropped by 18% for the month and 2.7% year-to-date. A Section 301 tariff rate of 12.5%, higher than the 10% rate faced by some competitorsm, has put prices at a disadvantage. Preliminary anti-dumping duty reviews also indicated significant increases; the final results, expected in late September, will determine orders in the fourth quarter. If tariffs remain high, trade flows will likely continue shifting toward Asia, placing further pressure on selling prices.
Pangasius exports rise thanks to non-US markets
Vietnam’s pangasius exports reached $194.8 million in August (up by 0.4%), with an eight-month total of $1.5 billion (up by 9%). The exports to China-Hong Kong rose 26.5% to $435.21 million. The EU market saw a 42.04% monthly increase and an 11.4% year-to-date rise, reaching $131.7 million. A shortage of wild-caught whitefish in Europe and high cod prices have created additional market opportunities for pangasius.
The exports of pangasius to the U.S in August totaled only $12.5 million (down 54.8%), while the eight-month figure stood at $201.7 million (down by 13.9%). The final POR21 results announced on August 12 were unfavorable, featuring a sharp increase in anti-dumping duties that made importers cautious. A rapid recovery for pangasius in the US market is unlikely; growth will instead rely on China, the EU, ASEAN, the Middle East, and niche markets.
Tuna exports stagnated, while other seafood categories saw selective growth
Tuna exports reached US$78.1 million in August (down by 11%), bringing the eight-month total to US$622 million (up by just 0.5%). The exports to the US rose by 8% to US$247.7 million, whereas exports to the EU fell 20% to US$113.6 million, dropping 43.6% in August alone. Raw skipjack tuna prices in Bangkok rebounded, while competition regarding EU tariff preferences and strict rules of origin squeezed profit margins. Although exports to ASEAN grew by 30.7% in August, this was insufficient to offset the decline in the two major markets.
The exports of squid and octopus reached US$75 million in August (up by 5.7%) and US$524 million over the first eight months (up by 14.4%). The exports to South Korea rose 18.7%, and those to ASEAN increased by 33.1%. The demand was bolstered by reduced squid supplies and rising retail prices in South Korea, alongside increased imports by China; however, domestic raw material supplies remained limited.
The exports of crabs and other crustaceans reached US$55 million in August (up by 50.7%) and US$304.9 million over the eight-month period (up by 34%). The exports to the US doubled to US$84.7 million, while exports to China and Hong Kong rose by 41.8% to US$154.7 million. US recognition of the equivalence of Vietnam’s blue swimming crab fishery and a court ruling dismissing a related lawsuit helped alleviate some legal uncertainty.
The exports of bivalve mollusks reached US$29.4 million in August (up by 30.9%). In the first eight months of this yeawr, the export value reached US$209.6 million, a 30.8% increase. The exports to the EU rose by 29.5% and to the US by 96%, while shipments to China and Hong Kong fell by 30.8%. Clam exports expanded in Spain, Italy, and the US, while scallop exports surged, driven partly by the processing and re-export of imported raw materials.
Year-end outlook: Divergent growth trends to persist
From September through the end of the year, holiday demand and inventory restocking cycles are likely to sustain high export values, though policy-related risks will shape the growth structure. For shrimp, the outcome of the anti-dumping duty review (scheduled for late September) and Section 301 tariffs will dictate US orders, price quotes, and the pace of market diversification. Regarding pangasius, the POR21 results have clouded the outlook for the US market, making the EU and China crucial offsetting markets.
For tuna, squid/octopus, and other wild-caught seafood, the IUU "yellow card," the EU’s CATCH system, and requirements for deeper traceability will limit the ability to capitalize on orders. In the US, the Marine Mammal Protection Act (MMPA) requires documentation proving compliance for flagged product codes; this acts as both a technical barrier and a criterion for supplier selection. The outlook for crabs is more favorable, though compliance costs remain high.
Surpassing the $12 billion mark in 2026 remains feasible, provided demand from China and Hong Kong holds steady and peak-season orders face no disruptions. However, growth momentum in the fourth quarter may lag behind that of the first eight months: shrimp growth is slowing, pangasius relies on markets outside the US, and tuna faces challenges in achieving a breakthrough, while squid/octopus, crabs, and mollusks stand out as selective bright spots. The growth is evolving into a race defined by market access, documentation capabilities, and the ability to withstand trade-related costs.
Source: VITIC/vasep.com.vn