The conclusion of negotiations on the Vietnam-European Free Trade Association (EFTA) Free Trade Agreement after 14 years of talks has opened new opportunities for Vietnam’s seafood export sector to access some of Europe’s most developed markets.

Vietnam has strengthened its position in China’s massive seafood market, becoming the largest lobster supplier while maintaining a dominant share of the country’s imported pangasius.

Vietnam’s pangasius exports reached US$1.3 billion in seven months as surging sales to China helped offset mounting tariff pressure in the US.

Vietnam’s seafood exports are heading towards $12 billion this year, potentially the highest level on record. Yet one of the country’s export strengths is facing a growing list of challenges.

Vietnam’s tilapia exports reached 69.4 million USD in the first half of the year, with Brazil emerging as the largest market after importing 34.9 million USD worth of the fish, a 289-fold increase from the same period in 2025.

Seafood exporters have fresh opportunities to gain greater access to high-value markets, after negotiations concluded with the EFTA on a free trade agreement (FTA) that would help Vietnam diversify exports amid rising global trade uncertainties.

Vietnam is accelerating efforts to diversify its tilapia export markets as global volatility, driven by geopolitical tensions, rising fuel prices and higher logistics costs, reshapes trade dynamics.​

Vietnam’s seafood exports posted steady growth in the first quarter of 2026, reaching an estimated 2.64 billion USD, up nearly 8% year-on-year, supported largely by strong demand from China despite mixed performance across major markets.

Vietnam’s exports of squid and octopus reached more than 111 million USD in the first two months of 2026, up 23% year on year, reflecting a positive start for the sector and early signs of recovering demand across several markets.

Strong appetite from China is fueling a boom in Vietnam’s high-value lobster exports, marking a significant growth driver early this year.

NFI urged Vietnam to continue strengthening data collection, including fishermen logbook systems, observer programmes and measures to reduce bycatch.

Rising tensions around the Strait of Hormuz are disrupting global shipping routes, pushing freight and insurance costs sharply higher and threatening supply chains for Vietnam’s seafood exporters.

China purchased nearly all of Vietnam’s lobster exports in 2025, spending US$845 million as demand for premium seafood soared.

Following a 19 percent export jump in 2025, Vietnam’s shrimp producers are seeing brighter prospects in both the US and Chinese markets.

Amid ongoing volatility in global aquatic product export markets, tilapia has risen as a strategic product enabling Vietnam to diversify its export portfolio and enhance sustainable value creation.

Vietnam’s seafood exports reached an estimated 874 million USD in January, marking a 13% year-on-year increase, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Tilapia exports to the US surged by 173% in 2025, as two major suppliers of the food, including China and Brazil, faced high tariffs, altering the supply landscape in this market.

Vietnam retained its position as Singapore’s third-largest seafood supplier in 2025, trailing only Malaysia and Indonesia on a full-year basis, as bilateral trade in aquatic products continued to gain momentum.

VASEP forecasts that pangasius export turnover could reach around 2.3 billion USD in 2026, supported by tightening global whitefish supplies and improving demand in several key markets.