From a leading position, the US has now dropped to third place on Vietnam's seafood export map. Why is Vietnamese seafood "losing steam" in this market?

The Ministry of Agriculture and Environment stated that in the first three months of this year, seafood exports continued to grow strongly, reaching a turnover of 2.6 billion USD, a 13.3% increase compared to the same period in 2025. However, a concerning trend has emerged as Vietnamese seafood "loses steam" in the US market.

Following a continuous decline, Vietnam's seafood ranking in the US has fallen from 1st to 3rd place, trailing behind China and Japan. Prior to 2025, the US was consistently the largest export market for Vietnamese seafood, but since 2025, China has surged ahead to claim the top spot.

The decline in the US market is attributed to several recent export challenges. According to many enterprises, the most immediate factor is the rise in ocean freight costs; additionally, American consumers have reduced spending, which has significantly impacted the supply of value-added products from Vietnam. Currently, many Americans are practicing cost-cutting policies, making it difficult for Vietnamese shrimp products to compete with low-cost supplies from other countries.

Furthermore, there are tariff barriers, such as the final results of the 19th administrative review (POR19) on frozen shrimp. Added to this is the regulation regarding the Marine Mammal Protection Act (MMPA).

However, compensating for the decline in the US market is the robust rise of the Chinese market. Vietnam has increased exports to this market thanks to strong growth in the high-end and deep-processed segments. Additionally, the demand for lobster, black tiger shrimp, and pangasius rose sharply during the Lunar New Year and early-year festivals.

The Vietnam Association of Seafood Exporters and Producers (VASEP) commented: In the context of 2026, with fluctuations in tariff policies and technical barriers in the US, alongside logistical challenges due to Middle East conflicts, China will be the most important growth driver for the Vietnamese seafood industry. Furthermore, the ASEAN market also saw good growth in the first two months of the year, reaching 118.6 million USD, an increase of 21.5%.

Source: Bao Thanh Nien