Maintaining growth rate

Seafood exports in the early months of 2025 maintained a stable growth momentum. According to the Viet Nam Association of Seafood Exporters and Producers (VASEP), in the first four months of 2025, seafood exports recorded decent growth, reaching 3.3 billion USD, up 21% compared to the same period in 2024.

Growth primarily came from key product groups such as shrimp, pangasius and molluscs. Notably, shrimp recorded an impressive recovery with 1.27 billion USD, up 30% thanks to price recovery and increased demand in some markets such as China, Japan and the European Union (EU).

Compared to the same period in 2024, China and Hong Kong (China) were the largest destinations for Vietnamese seafood, with nearly 710 million USD, up 56% - the highest increase among major markets. Japan ranked second with more than 536 million USD, up 22% thanks to stability in demand and advantages from value-added products.

The US ranked third, importing 498 million USD of seafood from Viet Nam, up 7% year on year. Other markets such as the EU and the Republic of Korea also recorded increases of 17% and 15%, with corresponding turnover of 351.5 million USD and 264.1 million USD in the first four months of the year.

The US has always been an important import market for Vietnamese seafood in recent years. Seafood export turnover to the US over the past six years has fluctuated from 1.5 to 2.1 billion USD per year. In 2024, seafood exports to the world’s largest economy reached 1.8 billion USD, accounting for about one fifth of total seafood export value, with shrimp and pangasius being the main products.

To maintain growth momentum amid tariff risks, Vietnamese enterprises have proactively adjusted their strategies, seizing opportunities to boost shipments, while actively optimising production and expanding into other markets such as the EU, Japan, the Republic of Korea, the Middle East, and more.

Proactively overcoming “big waves”

According to Ho Quoc Luc, Chairman of Sao Ta Foods, said that to expand export markets, the company has prepared well in advance, so this year it can approach new markets such as Canada, Australia, the Republic of Korea and Japan. China is also a potential market that the company is monitoring, ready to enter when conditions are right.

Le Van Quang, CEO of Minh Phu Seafood Corporation, said the company is planning to build a new shrimp processing factory in Ca Mau to meet the demands of foreign markets, especially the Japanese market. Currently, Japan is Minh Phu’s largest market, followed by Australia, New Zealand, the EU and the US.

According to economic experts, in a period when the world situation has many fluctuations and Viet Nam needs to diversify its export markets, the door for seafood exports to Russia, Brazil and the EU is opening with very many advantages.

The Brazilian Ministry of Agriculture and Livestock (MAPA) has just announced the lifting of the suspension on tilapia imports from Viet Nam that had been in effect since early 2024. The opening of the strategic Brazilian market for pangasius products and the ability to resume exports of tilapia products will bring many opportunities for seafood exporters.

In Russia, tuna export turnover to this market reached nearly 45 million USD in 2024, five times higher than in 2020, reaching the highest level in the past 10 years. In the first quarter of 2025 alone, tuna exports to Russia hit more than 10 million USD, up 15% compared to the same period in 2024.

The first quarter of 2025 also witnessed the strong return of Vietnamese shrimp in the EU market along with stable growth in quantity, price and product segments.

In the first quarter, shrimp exports to the EU reached more than 107 million USD, up 33% compared to the same period in 2024, with most major markets recording double-digit growth, such as Germany and France up nearly 40%, Belgium up nearly 60%.

The EU is not only a market rich in potential, but also possesses a diverse consumer ecosystem, from mainstream to high-end. These are good opportunities for Vietnamese businesses to diversify their markets.

To stabilise the mindset of people and businesses, Tran Dinh Luan, Director of the Department of Fisheries and Fisheries Surveillance, said the agency has requested the Departments of Agriculture and Environment of coastal provinces and cities and those in the Mekong Delta region to strengthen the direction of aquaculture production.

People and seafood businesses need to avoid fear leading to the situation of massive harvesting of farmed seafood or limiting production and seeding, affecting production plans and growth targets of the industry.

Although shrimp and pangasius bring high economic value, excessive focus on these two species makes the fisheries sector vulnerable to market fluctuations and disease risks.

Luan stated that to achieve the growth target of 4.35% in 2025, the fisheries sector needs to quickly diversify new potential competitive farming species, such as tilapia, eels, molluscs, seaweed, abalone or sea cucumbers. These are species that both have high economic value and are suitable for natural conditions in many regions.

According to Viet Nam’s fisheries development strategy to 2030, with a vision to 2045, tilapia is identified as a potential farming species, alongside shrimp and pangasius. The goal by 2030 is for tilapia output to reach 400 thousand tonnes, becoming the second largest freshwater fish export after pangasius, contributing to product diversification and reducing dependence on a few key products.

The fisheries sector aims to expand tilapia farming not only in ponds but also in reservoir areas. Right in the second quarter, the Department of Fisheries and Fisheries Surveillance will coordinate with relevant units to build improved farming models, reduce feed conversion ratios, increase survival rates and optimise production costs.

To create new momentum for the fisheries sector, some key solutions have been proposed by the Ministry of Agriculture and Environment such as focusing on investment in intensive, super-intensive, recirculating and energy-saving farming technologies to help improve productivity and quality; simultaneously replicating organic and ecological farming models. The application of artificial intelligence in disease prevention and treatment and e-commerce trading platforms for seafood products is also a potential direction.

Currently, Ca Mau and Ben Tre are leaders in applying high technology and sustainable aquaculture. According to the Ben Tre authorities, the province is accelerating to complete the development plan for 4,000 hectares of brackish water shrimp farming applying high technology in the second quarter, with an output of 144,000 tonnes.

Meanwhile, Ca Mau Vice Chairman Le Van Su said the province has about 280,000 hectares of shrimp farming, mainly shrimp-forest, shrimp-rice models, friendly to the environment. The province is also pioneering in developing ecological shrimp, organic shrimp with tens of thousands of hectares certified by international organisations. Ca Mau’s ecological shrimp products have established positions in many major markets, bringing high added value.

Global trade fluctuations pose challenges, but also open up many new opportunities for Viet Nam’s fisheries sector. Making good use of these opportunities is the key for the fisheries sector to realise the goal of 11 billion USD in export turnover in 2025.