Topic: Seafood exports

Facing uncertainty over US tariff policies, many seafood companies have adjusted their market strategies, focusing on diversification and value-added processing.

The US is the top import market for Vietnamese shrimp and tuna and ranks as the second largest for pangasius (tra fish).

The United States is an important and the largest market for Vietnamese seafood, with seafood import turnover reaching $1.8 billion in 2024.

Lebanon currently imports Vietnam's frozen and processed seafood, coffee, pepper, rice, footwear, garment accessories, as well as machinery and electrical equipment.

The main reason for the sharp increase in prices for larger catfish was the very limited quantity available, according to VASEP.

This achievement was thanks to a positive recovery in demand in two major markets - China and the United States.

Vietnam has set a target of approximately 12% export growth for 2025 compared to 2024.

Shrimp, tra fish and tuna are among key export products.

It is estimated that seafood exports to the US will reach $1.85 billion in 2024, representing a 19% increase compared to 2023.

Bilateral trade between Vietnam and Russia reached $2.74 billion in the first seven months of 2024, a 45.5% year-on-year increase.