According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first half of this year, seafood export turnover to the US reached about 905 million USD, an increase of nearly 18% over the same period last year.
In May alone, the export value to the US reached nearly 195 million USD - the highest level since the beginning of the year, a sharp increase of 61% compared to April. The reason is that Vietnamese enterprises are speeding up exports to avoid the new tax policy from the US.
However, after a period of acceleration, seafood exports to the US have cooled down. June recorded a decrease of nearly 18% compared to the same period last year, of which shrimp exports decreased by more than 36% and tuna decreased by more than 40%.
Many US businesses are currently cautious about risks arising from trade tensions, so they limit orders, reduce volume or only sign short-term contracts on a monthly basis, according to businesses in the industry.
Meanwhile, China has emerged as a bright spot in Vietnam’s seafood exports. Over the past six months, this market has imported over 1.1 billion USD worth of seafood from Vietnam, up nearly 45% over the same period. This is the first time China has surpassed the US to take the lead in importing Vietnamese seafood.
According to VASEP, although China has tightened quality standards, more stable trade policies have made it easier for Vietnamese businesses to plan production and sign long-term contracts.
VASEP also said that the overall export picture of the industry is gradually recovering, with some large enterprises reporting positive results. For example, Nam Viet Joint Stock Company (ANV), a large pangasius exporter, recorded revenue of more than VND73 billion in the first 6 months, up 96% year-on-year and reaching the highest level in the past 10 years.
Net profit reached over VND12 billion, up 9% over the same period. The company representative assessed that the Asian and American markets both grew well, with China being the most prominent market. The company has completed over 92% of the revenue plan and 71% of the annual profit target after only 6 months.
VASEP forecasts that in the second half of the year, the trend of shifting orders between markets will continue, as domestic enterprises must proactively adapt to increasingly strict tax policies, technical standards and traceability.
In addition to further exploiting the Chinese market and the CPTPP bloc, many Vietnamese seafood enterprises also aim to maintain market share in the US through developing green, sustainable production and increasing deep processing content to enhance export value.
The US is a high-end market with good prices, but Vietnamese businesses are having to adjust their strategies because policies are increasingly unpredictable. Some companies have shifted their focus, expanding exports to South Korea, Japan, the EU, and CPTPP, while also investing in technology, developing cold chains, and traceability systems to improve competitiveness.
In the first 6 months of the year, Vietnam's seafood exports reached about 4.4 billion USD, an increase of nearly 7% over the same period in 2024. Although the industry has improved compared to last year, this increase has not yet returned to its peak in 2022.
Source: https://baolaocai.vn/trung-quoc-tro-thanh-nha-nhap-khau-thuy-san-lon-nhat-cua-viet-nam-post649024.html
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