Vietnam seafood exports projected to hit US$12.3 billion in 2026 as demand improves

VIETNAM –  Vietnam’s seafood exports are expected to increase to around US$12.3 billion in 2026 from US$11.3 billion in 2025 if current market conditions continue and regulatory challenges are eased, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The industry group’s Secretary General Nguyen Hoai Nam said seafood export revenue reached close to US$4 billion during the first four months of the year, representing growth of more than 14% compared with the same period last year, while April shipments alone were estimated at US$947.8 million.

Although export growth was recorded across most seafood categories, the pace differed depending on the product segment, with shrimp and pangasius remaining Vietnam’s main export earners while tuna shipments declined by about 6% because of tighter import controls and weaker market conditions abroad.

At the same time, China continued to drive much of the sector’s expansion after seafood exports to mainland China and Hong Kong exceeded US$1 billion between January and April, while Japan posted steady import demand over the same period.

Meanwhile, exports to the United States fell by between 6% and 7% due to ongoing trade remedy investigations and changes in trade policy, although Nam said the decline was largely linked to technical restrictions rather than reduced consumer demand.

Regulatory pressures continue

The sector is also dealing with increasing regulatory obligations in overseas markets, including the European Union’s yellow card warning tied to concerns over Vietnam’s fishing practices and traceability standards.

In addition, exporters are being required to comply with new supply chain due diligence measures that require businesses to assess environmental and sustainability risks throughout production and sourcing operations.

The United States market has also become more difficult for exporters as anti-dumping and anti-subsidy investigations grow more complex, although cooperation between government agencies and businesses has helped lower tariff rates in some cases.

Rising domestic costs

Within Vietnam, seafood processors are facing higher operating costs because companies are being required to fund their own wastewater and environmental treatment facilities while also contributing to shared treatment infrastructure in industrial zones.

VASEP said overlapping compliance requirements and differences between regulatory frameworks are creating operational difficulties for businesses across the seafood supply chain.

Nam said future growth will depend on improving regulatory coordination, lowering unnecessary compliance costs and maintaining regular consultations between authorities and industry stakeholders, while further investment is also needed in traceability systems, hatchery development, deep processing capacity and supply chain integration.

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