Việt Nam’s seafood exports surge to $2.45 billion in Q1

Việt Nam’s seafood exports surge to $2.45 billion in Q1

Industry insiders pointed to stable raw material prices and a strategic shift towards higher-value processed products as key factors underpinning the strong performance of the two top earners -shrimp and tra fish.

An export shrimp processing line in HCM City. — VNA/VNS Photo

Việt Nam’s seafood exports staged a remarkable recovery in the first quarter, reaching a total value of US$2.45 billion, up 26 per cent year-on-year, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).

Shrimp and tra fish remained the key drivers of growth. By the end of Q1, shrimp exports totalled $931.6 million, a sharp increase of 35.7 per cent compared to the same period last year. This surge was largely attributed to robust demand from major markets such as China, the US and the EU. Meanwhile, tra fish exports contributed $465 million, an annual rise of 13 per cent.

Industry insiders pointed to stable raw material prices and a strategic shift towards higher-value processed products as key factors underpinning the strong performance of the two top earners.

However, tra fish exports experienced a slower growth rate compared to shrimp, reflecting a cooling market in early 2025 amid geopolitical uncertainties and continued anti-dumping duties in the US. Vietnamese shrimp, while maintaining upward momentum, faced intense competition from Ecuador and India, both of which benefit from cost and production scale advantages.

In addition, revenue from overseas shipments of crabs, swimming crabs and molluscs with shell fish stood out as a highlight in the first quarter, reaching $86.4 million, a staggering 66 per cent increase year-on-year, driven by soaring demand from China during its Lunar New Year period.

Tuna exports saw modest growth of 3.6 per cent, with cumulative earnings of $222.7 million between January and March. Nguyễn Hà, a VASEP expert on the tuna market, cautioned that the EU’s regulations on illegal, unreported and unregulated (IUU) fishing continue to pose significant challenges for Việt Nam’s seafood industry, particularly for the tuna sector. 

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