On August 6, at a press conference announcing the Vietnam International Seafood Exhibition (VIETFISH 2025) held in Ho Chi Minh City, Ms. To Thi Tuong Lan, Vice Secretary-General of VASEP, said that seafood export turnover for the whole of 2025 is expected to reach approximately $9 billion, a 10% decrease compared to 2024 ($10 billion).
The decline in exports, as predicted by the seafood industry, is largely due to the US market. According to Ms. Lan, the US market is wealthy and contributes a large market share to the industry. However, this market poses significant risks to Vietnamese businesses due to its current tax policies.
 Seafood export turnover by main product groups (January-June 2025) (in millions of USD). Source: VASEP
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Mr. Truong Dinh Hoè, Advisor to VASEP, said that seafood exports to the US market decreased by 20% in July compared to the same period last year. However, the seafood industry can hope that US consumers are willing to spend more, especially during the year-end peak consumption season.
In the first six months of 2025, the seafood industry recorded an export turnover of $5.25 billion, a 19.5% increase compared to the same period in 2024. This result also reflects the improved global consumption demand and the flexibility of businesses in the context of market fluctuations.
“Businesses are taking advantage of opportunities to seek other markets to compensate for sales in the US. Many of Vietnam’s value-added products are familiar to American consumers, while competitors in Ecuador have not yet done so. Therefore, for many years, US importers have continued to purchase seafood products from Vietnam,” said Mr. Hoè.
According to the Vice Secretary-General of VASEP, to avoid risks, businesses are diversifying their markets in South America. Specifically, businesses are taking advantage of Brazil’s signing of a trade agreement with Vietnam, opening up the market for shrimp and catfish. In addition, Columbia and Peru are also potential markets.
Moreover, Asian markets such as Thailand, Singapore, and the Philippines are also targets for Vietnamese businesses. In addition, businesses are striving to increase their market share in the Middle East. Despite fierce competition from rivals such as India, Ecuador, Thailand, and the Philippines, Vietnam remains the leading provider of high-value-added processed goods to foreign markets.
 It is forecasted that the seafood export turnover in 2025 will be $9 billion, a 10% decrease compared to 2024. (Source: VASEP) |
Regarding the domestic market, Ms. Lan said that some exporting businesses are not very interested in the local market because consumers are not really paying attention to their products. This is due to the perception that exported goods are only sold in supermarkets if they are returned by foreign buyers.
“This perception is incorrect. Most of the products exported to the EU and the US by Vietnamese businesses are sold out. It is not the case that only returned goods are sold in supermarkets,” she affirmed.
VASEP representatives assessed that the domestic market has significant potential due to shifting consumer demands. Consumption habits are moving from traditional fresh produce to modern frozen and processed products that meet food safety standards and are convenient to cook. This shift is accompanied by the emergence of a growing middle class.
“This is the time for high-quality seafood products exported to Europe and America to return to serve the domestic market. To support this strategy, VASEP will soon establish a club to connect domestic consumption between businesses and domestic supermarket systems,” said Ms. Lan.
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VIETFISH 2025 will take place in Ho Chi Minh City for three days (August 20-22, 2025). This year, the annual international event of the seafood industry will feature 280 companies from 17 countries and territories. The event consists of four main activities: Exhibiting high-quality products, advanced seafood processing and aquaculture technology; B2B business matching and market expansion; Thematic seminars and updates on the seafood industry; and Experiencing Vietnamese cuisine that has been exported globally. |
Tran Chung
– 05:30 07/08/2025
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