Viet Nam's seafood exports enter 2026 with both opportunities and challenges. After a year of impressive results, the industry is facing increasingly complex fluctuations in global trade, from rising logistics costs and geopolitical risks to increasingly stringent trade barriers in importing markets.

According to the Viet Nam Association of Seafood Processing and Export (VASEP), 2025 marks a significant milestone for the seafood industry, with export turnover reaching US$11.3 billion – the highest level ever. Including some related product groups, the figure could reach approximately US$11.6 billion.

Entering 2026, seafood exports are expected to maintain a certain growth momentum. In the first two months of the year, export value reached approximately US$1.7 billion, an increase of about 2% compared to the same period last year. In March 2026, the recovery trend continued, but with differentiation among markets.

Specifically, the US and European Union (EU) markets are showing signs of recovering import demand after a period of high inventories in 2024–2025. However, the growth rate remains cautious due to inflationary pressures and the trend of frugal consumption in these economies.

Meanwhile, the Chinese market is showing signs of increasing imports again for certain items such as shrimp and pangasius, thanks to improved domestic consumer demand. Asian markets such as Japan and South Korea continue to remain stable, acting as a "pillar" for Viet Nam's seafood exports during this volatile period.

Notably, the Middle East and some South Asian countries have seen increased import demand, but have been directly impacted by geopolitical tensions. Prolonged conflicts in the Middle East have disrupted supply chains, affecting shipping operations and trade costs.

Besides positive signals regarding export value, the fisheries sector is facing many new pressures from the global supply chain. Geopolitical conflicts in the Middle East have forced many international shipping routes to adjust their itineraries, especially those passing through the Red Sea region.

According to Ms. Le Hang, Deputy General Secretary of VASEP, the redirection of transportation has extended delivery times to Europe and the East Coast of the United States by one to two weeks, leading to a significant increase in logistics costs.

For the seafood industry – a sector heavily reliant on cold chain and international shipping – increased logistics costs not only raise product prices but also directly impact the competitiveness of exporting businesses.

Besides transportation costs, businesses are also facing pressure from trade barriers. In the US market, key products such as shrimp and pangasius continue to face anti-dumping lawsuits. Although recent reviews have shown more positive signs, the tariffs applied to some businesses remain high.

Meanwhile, major markets such as the EU, Japan, and South Korea are increasingly tightening standards related to sustainable development, environmental protection, combating illegal, unreported, and unregulated (IUU) fishing, and traceability. This presents both a challenge and an impetus for businesses to improve the quality and transparency of their production chains.

Despite facing numerous challenges, Viet Nam's fisheries sector is still assessed to have room for growth in 2026 thanks to gradually recovering global consumer demand and advantages from free trade agreements.

However, this outlook largely depends on businesses' ability to adapt to geopolitical fluctuations, logistics costs, and increasingly stringent requirements from import markets.

Close coordination between businesses, industry associations, and regulatory agencies is considered a key factor in helping the fisheries sector seize opportunities, overcome challenges, and maintain its position in the international market during this period of significant change.

In the context of volatile global trade, diversifying export markets is becoming a strategic requirement for the fisheries industry.

Currently, Viet Nam's seafood exports remain heavily concentrated in a few key markets such as the United States, the EU, China, Japan, and South Korea. These are large markets, but they also pose risks when policies change or demand declines.

According to Ms. Le Hang, expanding into new markets such as Brazil, South America, South Asia, or some Middle Eastern countries will help diversify risks and create more room for growth.

In fact, data from March 2026 shows that some emerging markets such as Brazil, India, Bangladesh, and the Middle East continue to demand competitively priced seafood products. This is seen as an opportunity for Vietnamese businesses to increase their market share, especially in the context of slow growth in traditional markets.

Given the impacts of the Middle East conflict and global trade fluctuations, experts believe the fisheries sector needs to implement a comprehensive set of solutions to maintain its growth momentum.

Firstly, businesses need to proactively restructure their export markets, reducing dependence on a few major markets, while simultaneously leveraging free trade agreements (FTAs) to expand their markets.

Secondly, it is essential to enhance logistics optimization, diversify transportation routes and delivery methods to minimize the risk of supply chain disruptions. Close cooperation with shipping lines and logistics partners will help businesses be more flexible in the face of fluctuating transportation costs.

Thirdly, increase the added value of products through deep processing and develop product lines that align with new consumer trends, such as convenience foods, green products, and sustainable products.

Fourth, enhance the capacity to meet international standards on environmental protection, traceability, and social responsibility. This is a key factor in helping businesses maintain market share in high-end markets.

Furthermore, the role of Vietnamese management agencies and trade offices abroad continues to be affirmed in providing market information, early warning of risks, and supporting the connection of businesses with international partners.

"In the current volatile environment, early warning of risks, providing market information, and supporting businesses in accessing international partners will be crucial factors in helping the fisheries sector maintain export growth," Ms. Le Hang emphasized.

Source: ChinhPhuNews

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