Against the backdrop of weakening traditional markets such as the United States, the EU, and partly Japan, China - Hong Kong and the ASEAN bloc are becoming the main driving forces helping maintain the growth momentum of Vietnam's seafood industry…

According to a report by the Vietnam Association of Seafood Exporters and Producers (VASEP), in August 2026, seafood exports reached 1.14 billion USD, up 6% compared to the same period last year; cumulative 8-month exports reached 8 billion USD, up 11.8%.

China - Hong Kong continues to be the largest export market for Vietnamese seafood, reaching 287.7 million USD, up 26.2% compared to the same period last year.

Overall in the first 8 months of 2026, exports to this market reached 2.03 billion USD, up 33.4%, accounting for more than 25% of the country's total seafood export value.

SHRIMP CONTINUES TO PLAY A KEY ROLE

VASEP said the strong growth from China - Hong Kong contributed more than 508 million USD to the entire sector's additional increase, equivalent to about 60% of the overall growth.

Notably, import demand for commodities such as shrimp, pangasius, crabs, and marine fish continues to remain at a high level.

Conversely, exports to the United States decreased by 11.4% in August, to only 167.74 million USD; cumulative 8-month exports reached 1.24 billion USD, almost unchanged compared to the same period last year.

The EU market also decreased by 1.6%, down to 749.9 million USD due to weakening demand for shrimp and tuna.

Regarding regional markets, in the first 8 months of 2026 compared to the same period last year, Japan reached 1.11 billion USD, up 2%; South Korea reached 566.3 million USD, up 4.9%.

Notably, ASEAN became a bright spot with 8-month turnover reaching 544.9 million USD, up 20%; August alone increased by up to 31%.

VASEP reported that in August 2026, shrimp remained the largest export commodity of the seafood industry with turnover reaching 485.5 million USD, up 5.7% compared to the same period last year; cumulative exports in the first 8 months of 2026 reached 3.29 billion USD, up 12.3% compared to the same period last year, and accounted for about 41% of total seafood export turnover.

In August 2026, China - Hong Kong continued to be the largest shrimp consumption market with turnover reaching 1.13 billion USD, up 37.6% compared to the same period last year.

Besides, shrimp exports to Japan, South Korea, and ASEAN also recorded increases of 10%, 16%, and 48%, respectively.

However, the United States is exerting great pressure on the shrimp sector, as export turnover to this market in August 2026 dropped 22%, to 70 million USD; cumulative exports in the first 8 months of 2026 decreased by 13.4%, down to 427.6 million USD.

In the EU, shrimp exports also declined by 18% in August and by 2.7% over the 8 months.

Tariffs under Section 301 at 12.5%, higher than some competitors, along with unfavorable preliminary anti-dumping review results, are reducing the competitiveness of Vietnamese shrimp in the United States.

The final result expected to be announced at the end of September 2026 is assessed to significantly affect orders in Q4/2026.

Pangasius exports reached 194.8 million USD in August 2026, up slightly by 0.4%; cumulative 8-month exports reached 1.5 billion USD, up 9%.

China - Hong Kong continues to be the most important market with turnover of 435.2 million USD, up 26.5%.

Notably, pangasius exports to the EU increased sharply by 42% in August and up 11.4% in the 8 months, reaching 131.7 million USD.

The shortage of natural whitefish supply in Europe along with rising cod prices is opening up more opportunities for Vietnamese pangasius.

Conversely, the United States continues to be a weak link for the pangasius industry as August turnover only reached 12.5 million USD, down 54.8%; cumulative 8-month exports reached 201.7 million USD, down 13.9%.

The sharp increase in anti-dumping duties in the POR21 review period has made importers more cautious in signing new purchase orders.

Q4/2026 WILL BE A MAJOR TEST FOR THE SEAFOOD INDUSTRY 

According to VASEP, tuna exports in August reached 78.1 million USD, down 11%; cumulative exports in the first 8 months of 2026 reached 622 million USD, up 0.5% compared to the same period last year. 

Although exports to the United States increased by 8%, reaching 247.7 million USD, the EU market dropped sharply by 20%, down to 113.6 million USD. 

Meanwhile, the squid and octopus group recorded positive results with turnover of 75 million USD in August, up 5.7%; cumulative 8-month exports reached 524 million USD, up 14.4%. 

South Korea and ASEAN continue to be strong growth markets thanks to increasing consumer demand. 

Notably, exports of crabs and other crustaceans reached 304.9 million USD after 8 months, increasing by up to 34%. 

The United States market alone doubled to 84.7 million USD, while China - Hong Kong increased by 41.8%, reaching 154.7 million USD. 

Bivalve mollusks also maintained strong growth momentum with turnover of 209.6 million USD, up 30.8%. 

Exports to the EU increased by 29.5%, while the United States increased by up to 96%. 

From now until the end of the year, consumer demand serving festive occasions and inventory replenishment activities are expected to continue supporting seafood exports.

 However, trade policy factors and increasingly stringent traceability requirements will directly impact the growth capacity of the industry. 

For shrimp, the final result of the anti-dumping duty review in the United States along with the Section 301 tariff rate will determine export prospects in Q4/2026. 

For pangasius, growth is expected to continue relying on the Chinese, EU, ASEAN, and Middle Eastern markets amid persistent difficulties in the US market. 

Meanwhile, commodities such as tuna, squid - octopus, and wild-caught seafood will face increasingly strict requirements related to combating illegal, unreported, and unregulated (IUU) fishing, the EU's CATCH traceability system, and technical regulations from multiple import markets. 

According to Ms. Le Hang, Deputy Secretary General of VASEP, the goal of seafood exports exceeding 12 billion USD in 2026 remains feasible if demand in China - Hong Kong is maintained and peak-season orders are not disrupted. 

However, growth in Q4/2026 is forecast to strongly diverge across product categories and markets, in which competition lies not only in price but also in the ability to meet traceability requirements, technical dossiers, and trade compliance costs. 

Source: VnEconomy