Photo: Stockfile/FIS

Vietnam's Pangasius Exports Soar Past $2 Billion Mark in First 11 Months

VIET NAM
Tuesday, December 16, 2025, 00:20 (GMT + 9)

Growth Led by China as US and EU Markets Face Headwinds

Hanoi – Vietnam's pangasius export industry has achieved a significant milestone, with total turnover surpassing US$2 billion by the end of November 2025. This figure represents a 9% increase compared to the same period in 2024, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Exports in November alone reached US$195 million, also marking a 9% increase year-on-year and signaling a stable recovery trend in the final months of the year.

The Chinese market remains the industry's strongest driver. Following a strong October surge, exports to China continued steady growth in November, reaching nearly $59 million—a significant 17% increase compared to the same month in 2024. China is currently the largest contributor, leading in overall pangasius export value.

Photo: VASEP

In contrast, exports to the US market continue to face challenges. November figures reached $20 million, a 23% decrease from the previous year. This decline is attributed to the impact of the 20% retaliatory tariff, which has eroded the price competitiveness of Vietnamese pangasius. The downward trend, which began in August, showed no sign of reversing by November.

Similarly, exports to European Union (EU) countries declined to US$12 million in November, a 25% decrease year-on-year. The drop was primarily driven by major markets like the Netherlands (down 18%) and Germany (down 20%). However, slight growth in other EU markets offers potential for future intra-bloc development.

Within the CPTPP market bloc, performance was mixed but showed positive signs. Exports to the UK reached $5 million, a slight 4% decrease, less significant than in the preceding two months and suggesting an initial recovery. Mexico was a bright spot, with export value soaring to $8 million, equivalent to a substantial 50% increase. Japan and Malaysia also maintained stable growth with a slight 2% increase.

Other emerging markets demonstrated high growth rates, though their total proportion remains small. Exports to Brazil reached US$15 million in November, a 13% increase. In the first 11 months of 2025, total exports surged to Thailand (up 24%), Egypt (up 33%), and Russia (up 45%).

Product analysis shows that pangasius fillets (HS code 0304) continue to dominate, accounting for over US$1.6 billion in export value from January to November 2025, an 11% increase. Processed pangasius (HS code 16) also grew significantly by 13%, reaching US$48 million.

The sharp decline in the US and EU markets has increased China's share to 30% of total pangasius exports. Looking ahead to 2026, the sustained impact of the 20% retaliatory tariff in the US is projected to continue affecting competitiveness. Vietnamese businesses are urged to proactively diversify exports, expand to high-growth markets like Brazil and the CPTPP bloc, and focus on higher-value, deeply processed product lines. Achieving sustainable, international certifications is also highlighted as crucial for strengthening the competitive advantage of Vietnamese pangasius globally.

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