Vietnam’s Seafood Exports Surge 20 Percent to $6.2 Billion China Hong Kong Overtakes US as Top Market Amid Trade Headwinds

Vietnam’s seafood exports reached $6.2 billion in the first seven months of this year, up 20% year-on-year, with China and Hong Kong now the leading destination at over $1.2 billion. The US and Japan follow as major importers, but the sector faces considerable headwinds.

Exporters warn that persistent US anti-dumping and countervailing duties have eroded Vietnam’s competitive edge against rivals like Ecuador, Indonesia, and the Philippines. Meanwhile, the EU maintains a yellow card over IUU (Illegal, Unreported, Unregulated) fishing, and domestic policies (Decrees 37 and 38) have complicated raw material sourcing and damaged industry reputation.

Geopolitical tensions, such as the Russia-Ukraine conflict and Middle East unrest, together with global shipping disruptions, are driving up logistics costs and impacting exports. The Vietnam Association of Seafood Exporters and Producers (VASEP) now forecasts full-year seafood exports at $9 billion, about 10% lower than last year.