Vn’s fishery sector diversifies export markets and products amid global trade challenges

Vn’s fishery sector diversifies export markets and products amid global trade challenges

Facing rising global trade barriers and market fluctuations, Việt Nam’s fishery industry is intensifying efforts to diversify its export markets and products to sustain growth and reduce risks.

Fishery products processed for export. Việt Nam’s fishery industry is intensifying efforts to diversify its export markets and products to sustain growth and reduce risks. — VNA/VNS Photo Vũ Sinh

According to the Việt Nam Association of Seafood Exporters and Producers (VASEP), aquatic product exports reached US$3.3 billion in the first four months of 2025, a 21 per cent increase over the same period last year. Shrimp led the growth with a 30 per cent surge, followed by tra fish (pangasius), which rose by 9 per cent.

China became the largest importer of Vietnamese aquatic products with a 56 per cent increase, followed by Japan (22 per cent) and the US (7 per cent). Despite a mild recovery after a slow first quarter, exports to the US remain under pressure due to tariffs and technical trade barriers.

Phan Hoàng Duy, Deputy General Director of Can Tho Seafood Import-Export JSC (CASEAMEX), said the US accounts for more than half of the company’s pangasius exports. However, rising costs linked to US tariffs are prompting the company to pivot toward other markets in Europe and Asia, while cutting production costs and reviving old clients.

To support broader market access, VASEP Deputy Secretary General Lê Hằng highlighted the importance of leveraging free trade agreements such as the European Union-Việt nam Free Trade Agreement (EVFTA), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and Regional Comprehensive Economic Partnership Agreement (RCEP) to expand exports to the EU, Japan, and the Republic of Korea.

She also called on businesses to explore new markets like the Middle East and South America to reduce overdependence on traditional buyers.

Fishery products processed for export. Việt Nam’s fishery industry is intensifying efforts to diversify its export markets and products to sustain growth and reduce risks. — VNA/VNS Photo Vũ Sinh

Vietnamese aquatic products, especially shrimp, have a competitive advantage in the EU due to zero tariffs, compared to 12–20 per cent imposed on Chinese products. While there have been no major breakthroughs, exports to the EU continued to grow steadily in key product categories like white-leg shrimp, black tiger shrimp, tuna, pangasius, and clams.

In May, VASEP led 28 Vietnamese companies to the 31st Seafood Expo Global in Spain, reinforcing its strategy to diversify markets and reduce reliance on high-barrier destinations.

Emerging strategic markets

Singapore has become Việt Nam’s fourth-largest aquatic product importer, surpassing Malaysia, Indonesia, and Norway. Demand is strong for chilled, frozen, and filleted fish products. Việt Nam’s Trade Office in Singapore is working closely with VASEP to support businesses in marketing, participating in trade fairs, and compliance with quality standards.

In South America, Brazil is emerging as a strategic market. Vietnamese pangasius now holds 38 per cent of Brazil’s market share, with 26 exporters active, including Hung Ca, Cadovimex, Nam Viet, and Hoang Long. In Q1 2025, aquatic product exports to Brazil rose by over 70 per cent year-on-year.

Brazil recently lifted its ban on Vietnamese tilapia, opening new opportunities for product diversification. The country is also considering easing regulations on additives like phosphates, potentially boosting Vietnam’s processed aquatic product exports.

Beyond markets, Việt Nam is also diversifying its products. Tilapia is being prioritised to complement the industry’s focus on shrimp and pangasius. According to Trần Đình Luân, Director of the Directorate of Fisheries, tilapia farming will help balance the sector’s export portfolio.

Deputy Minister of Agriculture and Environment Phùng Đức Tiến stressed that market diversification is not just a short-term solution but a long-term strategy. He urged businesses to comply with international standards, including Halal requirements, and to invest in quality control, cost efficiency, processing capacity, and trade promotion. 

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