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According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's seafood exports in September 2026 reached approximately $1,134.5 million, a year-on-year increase of 11.9%. Accumulated over the first nine months, the industry recorded a turnover of $9,103.5 million, up 11.4%. However, this growth trajectory underscores an urgent need for sustainable raw materials and traceability.

Growth Driven by China and ASEAN

The recovery of seafood exports is heavily influenced by Asian markets, helping to diversify outlets and reduce reliance on traditional markets:

• China - Hong Kong: Reached $315 million in September (up 39.9%). The 9-month total hit $2.3 billion, up 33%, accounting for 25% of total industry turnover and contributing 62% to Vietnam's overall seafood export growth.

• ASEAN: Recorded nearly $84 million in September (up 45.4%). The 9-month accumulation reached $620 million, up 21%.

• South Korea: Reached $652 million in 9 months, representing a 6.1% increase.

Shrimp Slows Down While Pangasius and Seafood Accelerate

The product structure is shifting, reflecting the resilience of the supply chain:

• Shrimp: Remains the core pillar, holding a 41% share. The 9-month total reached $3.745 billion, up 11%. However, September's growth slowed to 3.9% due to rising global supply and uneven purchasing power in the US, EU, and China.

• Pangasius: Reached $214.3 million in September (up 18.6%). The 9-month total hit $1.737 billion, up 10.7%, capitalizing on the global shortage of wild-caught whitefish.

• Other Seafood: Contributed significantly with various fish reaching $1.741 billion (+12.2%); squid and octopus hitting $606.4 million (+15.4%); crabs and crustaceans reaching $354 million (+31.6%); and bivalve mollusks securing $231.3 million (+25.2%).

Challenges in High-Standard Markets

In contrast to the boom in Asia, developed markets simultaneously stalled in September, imposing increasingly strict sustainability barriers:

• United States: September exports fell 3.4% to $176 million. The 9-month total slightly increased by 0.9% to $1.43 billion, impacted by additional tax costs and MMPA/COA requirements.

• European Union (EU): September turnover dropped 12.8% to $93 million; the 9-month total fell 3% to $843 million. Traceability and supply chain transparency are mandatory conditions for market access.

• Japan: Decreased by 13.7% in September; the 9-month total grew slightly by 0.8% to $1.25 billion.

Q4 Outlook: Aiming for $12 Billion via Sustainable Value

VASEP forecasts that full-year seafood exports for 2026 could reach $12 billion. However, Q4 growth is expected to slow as year-end orders were delivered early, and raw material supplies for shrimp, pangasius, and tilapia are limited.

To transform the current momentum into long-term competitiveness, the industry must transition from volume expansion to operational efficiency. Sustainable resource management, waste reduction, byproduct utilization, and digitalized traceability systems will be the keys to securing Vietnam's position in global trade.