A worker processing shrimp for export at a Minh Phú Seafood Group factory in Cà Mau Province. — VNA/VNS Photo

HÀ NỘI — Việt Nam's seafood exports rose by 6 per cent in August compared to last year, supported by strong demand from mainland China, Hong Kong and Southeast Asia, which helped offset weaker shipments to the US.

Seafood exports reached over US$1.1 billion in August, taking total exports in the first eight months of this year to $8 billion, up 11.8 per cent from a year earlier, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).

The pace was slower than the 12.8 per cent growth recorded in the first seven months, reflecting a widening gap between Asian markets and traditional destinations such as the US, the EU and Japan.

Mainland China and Hong Kong were the main drivers of growth. Exports to these markets in August rose by 26.2 per cent on-year to $287.7 million and reached more than $2 billion in the first eight months, up 33.4 per cent from 2025 and accounting for 25.4 per cent of Việt Nam's total seafood exports.

ASEAN also continued to perform well, with exports rising by 20 per cent to $544.9 million in the first eight months and 31 per cent in August alone compared to last year.

By contrast, exports to the US in August fell by 11.4 per cent on-year to $167.7 million. Eight-month exports stood at $1.2 billion, broadly unchanged from a year earlier, as declines in shrimp and pangasius shipments offset growth in tuna, crab and shellfish.

Exports to the EU fell by 1.6 per cent in the first eight months to $749.9 million, mainly because of weaker shrimp and tuna shipments. At the same time, exports to Japan rose by 2 per cent to $1.1 billion, and exports to South Korea increased by 4.9 per cent to $566.3 million.

Shrimp remains key growth driver

Shrimp remained Việt Nam's largest seafood export, with August shipments rising by 5.7 per cent on-year to $485.5 million and eight-month exports increasing by 12.3 per cent to $3.3 billion.

Mainland China and Hong Kong were the strongest markets, with shrimp exports rising 37.6 per cent to $1.13 billion in the first eight months. Shipments to Japan, South Korea and ASEAN also increased in August compared to 2025.

The US market remained a weak spot. Shrimp exports to this market in August fell by 22 per cent on-year to $70 million, down 13.4 per cent in the first eight months to $427.6 million. A 12.5 per cent Section 301 tariff, compared with 10 per cent for some competitors, has put Vietnamese shrimp at a price disadvantage, VASEP said. Shipments to the EU also declined.

Pangasius exports rose by 9 per cent in the first eight months to $1.5 billion, supported by stronger demand outside the US. Exports to mainland China and Hong Kong rose by 26.5 per cent, while shipments to the EU increased by 11.4 per cent on-year to $131.7 million.

Shortages of wild-caught whitefish in Europe and high cod prices have created additional opportunities for farmed pangasius.

US pangasius exports, however, fell by 54.8 per cent to $12.5 million in August and 13.9 per cent in the first eight months to $201.7 million. The final result of the 21st anti-dumping administrative review announced on August 12 raised duties and prompted greater caution among importers.

Processing octopus for export to the Japanese market at Huy Nam Company, An Giang. VNA/VNS Photo

Other seafood shows mixed performance

Tuna exports fell by 11 per cent last month compared to August 2025, and rose by just 0.5 per cent in the first eight months to $622 million. While US exports increased by 8 per cent, shipments to the EU fell by 20 per cent, with a 43.6 per cent on-year decline in August.

Other seafood categories performed better in 2026. Squid and octopus exports rose by 14.4 per cent in the first eight months to $524 million, while crab and other crustaceans increased by 34 per cent to $304.9 million.

Crab exports to the US doubled to $84.7 million, while shipments to mainland China and Hong Kong rose by 41.8 per cent to $154.7 million. 

Mollusc exports rose by 30.8 per cent in the first eight months to $209.6 million, with shipments to the EU up 29.5 per cent and those to the US almost doubling.

Outlook

VASEP expects holiday demand and inventory restocking to support exports through the end of the year, but trade policies could increasingly shape market growth.

For shrimp, the anti-dumping duty outcome expected in late September and Section 301 tariffs will be key to US orders and pricing. For pangasius, China and the EU are expected to remain important alternatives as prospects in the US market weaken.

Lê Hằng, deputy secretary-general of VASEP, said the association had prepared three scenarios for 2026 seafood exports.

Under its optimistic scenario, exports could exceed $12.5 billion if US trade barriers are eased or tariff policies become more favourable. The best case puts exports at $12.3 billion, up 10 per cent from 2025, while a more cautious scenario sees $11.8 billion in exports if orders fall sharply and competitiveness weakens.

Việt Nam could still surpass $12 billion in seafood exports this year if demand from mainland China and Hong Kong remains strong and peak-season orders are not disrupted. However, fourth-quarter growth is expected to be slower than in the first eight months, as shrimp growth moderates and pangasius increasingly relies on markets outside the US.

The industry would need to diversify markets, improve competitiveness and adapt to tighter trade and traceability requirements to sustain growth, VASEP said. — VNS