According to the Vietnam Association of Seafood Exporters and Producers (VASEP), shrimp export revenue in July alone reached US$410 million, up 9% year-on-year, bringing total earnings for the first seven months of 2025 to US$2.5 billion, a 24% increase over the same period last year.

China remains Vietnam’s largest shrimp market, with exports hitting US$710 million (29% of total), a 78% jump year-on-year. July shipments to China surged 63% to US$115 million, driven by strong demand for lobster and processed shrimp, favorable logistics, and proximity.

Shipments to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) countries totaled US$699 million, up 36% and accounting for 28% of overall exports. Japan led within the bloc at US$320 million, up 15%, though July exports dipped 1.4% due to yen depreciation.

The EU imported US$309 million worth of Vietnamese shrimp from January to July, a 17% increase. July alone saw US$57 million in exports, up 21%, supported by easing inflation and stable demand for processed shrimp.

The Republic of Korea (RoK) contributed US$203 million (8% of total), driven by HORECA and retail demand.

In contrast, the US market faced challenges. July exports fell 29% to US$63 million, while seven-month earnings rose just 3% to US$404 million, following preemptive orders ahead of a 20% reciprocal tariff and anti-dumping investigations. VASEP warned that Vietnam is losing competitiveness to rivals like Ecuador (15% tariff), Indonesia, and the Philippines (19%), prompting exporters to adjust pricing and restructure orders.

White-leg shrimp dominated exports at US$1.6 billion (63% of total, up 8%), black tiger shrimp brought US$260 million (up 5%), while other shrimp products, including frozen varieties, surged 117% to US$657 million, driven by Asian market demand.

VASEP projects that sustained momentum in Asia, combined with growth in the EU and CPTPP regions, particularly in processed and value-added products, could help Vietnam meet or exceed the US$3.8 billion export target in 2025. However, persistent challenges in the US market may dampen growth in the latter half of the year, highlighting the need for market diversification, value-added production, international certifications, and adaptive pricing strategies.

Source: VOV