Vietnam’s Seafood Sector Swims Upstream Amid Global Tariff Waves with Top 10 Seafood Exporters

Vietnam’s seafood industry has long been a lifeline for rural economies and a pillar of national exports. In early 2025, the sector once again demonstrates its resilience. Despite navigating increasingly turbulent waters—rising protectionism, geopolitical friction, and looming tariffs—Vietnam’s seafood exports are thriving.

According to the General Department of Customs, seafood exports in April 2025 reached USD 900.88 million, a 2% increase from March and 16.1% higher than April 2024. Cumulatively, exports for the first four months of the year totaled USD 3.211 billion, up 18.1% year-on-year. These figures underscore not only global demand but also Vietnam’s agility in adapting to shifting market dynamics.

China and the U.S.: Friends, Rivals, and Wildcards

Vietnam’s export trajectory is increasingly defined by its relationships with China and the United States.

China has emerged as Vietnam’s top seafood market, importing USD 176.5 million in April alone—a 13.9% increase month-on-month and 35.3% rise year-on-year. Total exports to China for January through April reached USD 640.7 million, making up 20% of Vietnam’s seafood export revenue. The growth is fueled by rising demand for pangasius and processed shrimp as China recovers from domestic production bottlenecks.

Meanwhile, the U.S.—formerly Vietnam’s top buyer—is now the second-largest market. Exports to the U.S. in April stood at USD 161.4 million, while the January–April total reached USD 531.9 million, up 16.6% from the same period last year. But uncertainty looms: on July 9, 2025, the U.S. will enact retaliatory tariffs on selected Vietnamese goods. While part of a broader campaign targeting transshipment and trade imbalances, seafood is caught in the crossfire.

Still, these tariffs are seen by many analysts as more symbolic than substantive. Unlike the aggressive policies targeting Chinese exports, the U.S. views Vietnam as a strategic partner in efforts to reduce reliance on China. Many Vietnamese exporters are responding with urgency. Shipments to the U.S. are expected to jump 10–15% in May and June, as firms expedite deals and offer discounts to stay competitive ahead of the tariff deadline.

Europe, Japan, and CPTPP: Vietnam’s Safer Harbors

Amid the unpredictability of U.S. trade policy, Vietnam is turning to more stable partners. Japan and the EU are increasingly important markets, thanks to trade agreements like the CPTPP and the EVFTA.

Vietnam’s seafood exports to Japan hit USD 492 million during the first four months of 2025, up 11.5% year-on-year. Meanwhile, exports to Italy, Belgium, and Brazil also posted strong growth—Italy alone saw a 70.7% year-on-year increase in April. These gains reflect both demand and Vietnam’s strategic pivot toward diversified, tariff-free destinations.

Industry Anchors: Who’s Leading the Surge?

Vietnam’s seafood success would be impossible without the leadership of its top exporters. Ten standout companies have propelled the sector forward:

1. Vinh Hoan Joint Stock Company – USD 75.445 million
2. Soc Trang Seafood Joint Stock Company – USD 75.426 million
3. Phat Loi Manufacture Services Trading Co., Ltd. – USD 70.900 million
4. Minh Phu Seafood Joint Stock Company – USD 68.829 million
5. Minh Phu - Hau Giang Seafood Joint Stock Company – USD 63.981 million
6. Sao Ta Foods Joint Stock Company – USD 55.715 million
7. Ca Mau Seafood Processing and Service Joint Stock Corporation – USD 54.655 million
8. An Hai Fishery Limited Company – USD 41.902 million
9. Tai Kim Anh Seafood Joint Stock Corporation – USD 34.245 million
10. Nam Viet Corporation – USD 33.304 million

These enterprises not only operate efficiently but also maintain strong reputations through verification on platforms like VNBIS, where potential buyers can assess their financials, legal standing, and transparency of ownership.

What Lies Ahead?

As Vietnam enters the second half of 2025, challenges remain. The impact of U.S. tariffs may begin to bite, particularly for small and mid-sized firms without the scale or flexibility to pivot quickly. However, Vietnam’s seafood industry has several advantages:

• Preferential access to CPTPP and EVFTA markets
• A strong global reputation for quality and compliance
• An increasingly digitized, transparent export ecosystem via platforms like VNBIS

While global trade winds remain volatile, Vietnam’s seafood sector is steering with foresight and resilience. By capitalizing on strategic partnerships and maintaining high standards, it is well-positioned to ride out rough waters and chart a sustainable, export-led course. 

Compiled by:  Allie LE

Vanguard Business Information LLC