The U.S. and China Race to Tap Vietnam’s $4 Billion Rare Earth Treasure: Leveraging World-Leading Processing Technology

According to statistics from the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s shrimp exports in October 2025 reached $498 million, a 26% increase compared to the same period last year. This marks one of the highest monthly figures since the beginning of the year, reflecting strong demand in major markets and accelerated delivery efforts by businesses. From January to October, the total export value reached $3.9 billion, a 22% increase compared to the same period in 2024.

The growth in October was significantly driven by whiteleg shrimp products and the Chinese market, which continues to show robust demand for Vietnam’s live, fresh, and frozen shrimp products.

In the first ten months of 2025, Vietnam’s shrimp exports to most major markets saw increases. China and Hong Kong emerged as the brightest spots, reaching $1.1 billion, a 64% increase year-on-year—the highest growth rate among all markets. The CPTPP bloc achieved over $1 billion in the first ten months, a 33% increase year-on-year. This region provides stability for shrimp businesses due to sustained demand in Japan, Canada, and Australia.

The U.S. market reached $702 million in the first ten months, a 9% increase year-on-year, indicating steady demand despite competitive pressure from Ecuador and India. Shrimp exports to the EU reached $487 million, a 20% increase year-on-year. In October, this market recorded $53 million, maintaining stable demand for processed, certified, and value-added products.

Notably, Taiwan experienced a significant surge in October, reaching $12 million, nearly an 80% increase compared to October 2024, highlighting the potential for expansion in the Asia-Pacific region.

In terms of product structure, whiteleg shrimp continues to dominate with $2.5 billion, accounting for nearly 65% of the total ten-month export value. This product group has the highest growth rate due to competitive pricing, large volumes, and alignment with the preferences of most major markets.

Black tiger shrimp reached $385 million, accounting for nearly 10% of the total export value. Exports of black tiger shrimp remain stable, primarily due to sustained demand in Japan and the large-sized, eco-friendly shrimp segment in China. Other shrimp types reached $991 million, a significant increase year-on-year, reflecting the trend of businesses increasing deep-processed and frozen products, optimizing factory efficiency, and targeting high-value market segments.

Since the beginning of the year, Asia has been the strongest growth driver for Vietnam’s shrimp exports. China and Hong Kong saw increases of over 60%, Taiwan experienced a strong surge in October, and South Korea maintained a slight increase. This indicates improving regional demand due to gradual economic recovery, Vietnam’s geographical advantage, and businesses’ market diversification strategies amid U.S. tariffs.

Meanwhile, markets such as the U.S., Japan, and the EU maintain stable growth, primarily in value-added and processed shrimp products.

Vietnam has over 350 shrimp production facilities eligible for export. The top 5 shrimp exporters in Vietnam achieved over $150 million, accounting for nearly 35% of the total export value. Vietnam is recognized as a country with the most advanced shrimp processing technology and a strong focus on producing high-value-added goods.