Historically, the US market accounted for roughly 18–20% of Vietnam’s total seafood export turnover. Recently, however, this share has contracted to around 15.5–17%. The Vietnam Association of Seafood Exporters and Producers (VASEP) maintains that despite "a shrinking market share, the US remains a must-retain market."

The US: A strategic "must-retain" destination

According to freshly released data, Vietnam’s seafood exports reached USD 8 billion in the first eight months of 2026, up 11.8% year-on-year. August alone brought in USD 1.14 billion, a 6% uptick. However, growth momentum decelerated from the 12.8% pace recorded through July, signaling mounting pressure on enterprises as they head into the final months of the year.

The standout takeaway lies not in headline expansion, but in the shifting contribution of individual markets. The China–Hong Kong bloc is emerging as one of the most critical growth engines. Over the eight-month span, exports to this market reached USD 2.03 billion, surging 33.4% and accounting for 25.35% of total export turnover. In August alone, deliveries hit USD 287.7 million, up 26.2%.

In contrast, seafood shipments to the US in August fell 11.4% to USD 167 million; cumulative eight-month turnover stood at USD 1.24 billion, remaining virtually flat. Shrimp exports to the US in August tumbled 22% to USD 70 million; the eight-month figure dropped 13.4% to USD 427.6 million.

Pangasius exports to the US reached just USD 12.5 million in August, plummeting 54.8%; eight-month turnover stood at USD 201.7 million, down 13.9%.

Assessing this downward shift in export turnover to the US market, Nguyen Hoai Nam, Secretary-General of VASEP, noted that the US traditionally made up around 18–20% of Vietnam’s total seafood exports. In recent times, however, this proportion has receded to roughly 15.5–17%.

By 2026, this downward trend has become more pronounced. August witnessed steep export declines to the US across key staple lines, including shrimp, pangasius, and tuna.

Despite the current downturn, Nam maintained that "this by no means implies that the US has lost its strategic role in Vietnam's seafood export architecture."

He added: "The US remains one of the world's most affluent consumer markets, capable of absorbing high-value products, and aligns exceptionally well with Vietnam’s processing strengths."

That competitive edge stems from Vietnam's network of approximately 1,500 seafood exporting enterprises, around 1,000–1,100 of which operate dedicated processing plants. In addition, thousands of artisanal facilities operate under long-standing local management.

Crucially, the bulk of processing capacity remains domestic-owned and anchored directly to local raw material supplies. While competing exporting nations may hold greater advantages in raw material production costs, Vietnam excels in deep processing, product diversification, and value creation.

From tempura and breaded shrimp to ready-to-eat and convenience lines, Vietnamese processors have established advanced capabilities unmatched by many rival producers. This explains why Vietnam continues to hold its ground against India or Ecuador, even during cycles when domestic shrimp farming costs run higher.

Deep processing, moving up the value chain

From an exporter's perspective, Nguyen Van Dao, Chairman and CEO of Go Dang Joint Stock Company (Godaco), observed that the US market has experienced persistent volatility in recent years, with import-export policies placing mounting pressure on pangasius.

Supplemental tariffs have raised the landed cost of Vietnamese pangasius in the US, dulling its competitive edge against domestic channel catfish and alternative whitefish varieties.

For exporters, such friction frequently forces concessions: US importers demand tariff-sharing, lower purchase quotes, contract renegotiations, or switch to alternative sourcing channels.

Confronting these headwinds, industry observers view this period as "a pivotal litmus test for the seafood sector’s growth model." Commodity-grade frozen fillets, which depend almost entirely on price competitiveness, will quickly lose ground.

To navigate buyer demands and especially US trade defense measures, the seafood sector must prioritize value accretion across every link of the chain—from farming and harvesting to deep processing (value-added fillets, prepared shrimp) and distribution (export and domestic channels). This transformation must be underpinned by standard certifications (VietGAP, GlobalGAP), robust traceability, and brand building.

Furthermore, experts emphasize that accelerating deep processing serves a dual purpose: sidestepping tariff barriers while defending profit margins. This pivot is already gaining traction: value-added pangasius exports surged nearly 47% in 2025, buoyed by breaded, pre-sauced, and ready-to-cook product lines.

Source: Bao dien tu Dan Viet