In July alone, shrimp exports stood at US$452 million, a 10% increase compared to the same period last year. However, this figure fell short of the US$458 million recorded in June, indicating that monthly growth momentum has yet to make a strong breakthrough.

While overall seven-month growth stayed solid, performance varied significantly across markets and product segments. China drove expansion, with lobster emerging as a bright spot, whereas the US market faced ongoing pressure from tariffs and supply competition.

Specifically, shipments to Mainland China brought in nearly US$939 million, up 42.3% and accounting for 33.5% of total turnover. Including Hong Kong, the China-Hong Kong market generated over US$980 million, up 39.6% and representing 35% of Vietnam’s total shrimp exports. VASEP highlighted this as the most crucial growth engine offsetting declines in traditional markets.

While seven-month results were positive, VASEP noted that the quality of growth warranted closer scrutiny. China and lobster demand provided a strong pull, whereas exports to the US declined and the EU market flattened out.

For the remainder of the year, growth potential lies in China, member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Australia, and Japan. Conversely, the US market faces headwinds due to sluggish purchasing power, trade defense risks, tightening import controls, and fierce competition from Ecuador and India.

Furthermore, effective July 24, 2026, Vietnamese goods face an additional 12.5% US tariff. Shrimp is the most impacted item under US tariff policies, as some Vietnamese exporters face this 12.5% Section 301 duty alongside existing anti-dumping (AD) and countervailing duties (CVD).

Shrimp remains the highest-value export commodity in the seafood industry. In 2025, when total seafood export turnover hit US$11.3 billion, shrimp contributed a record US$4.83 billion, up 25.5% year-on-year.

Of that total, China continued to be the largest importer, taking in US$1.2 billion (US$1.3 billion including Hong Kong, or 28.3% market share, up 55%). Exports to the US in 2025 fetched US$796 million, up 5.4% and accounting for 17.2% of total turnover.

Source: VOV

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