Shrimp exports hit $1.07 billion on strong China demand

Photo: VASEP

According to data from the Vietnam Association of Seafood Exporters and Producers (VASEP), total shrimp exports reached nearly 1.07 billion. Shipments to China, including Hong Kong, totalled 440.1 million, accounting for more than 41 per cent of the total.

VASEP described the industry’s ability to generate over $1 billion in export revenue as a positive signal, given that the global shrimp market has yet to recover evenly, competition among major suppliers is intensifying, and the international trade environment remains highly volatile.

However, this growth does not reflect a broad-based recovery across the sector. Instead, it is largely driven by strong performance in a handful of markets and specific product segments, most notably lobster exports to China.

Lobster has emerged as the standout export item. Total lobster export value in the first quarter reached $345.5 million, up 57.4 per cent on-year. Of this, China and Hong Kong alone accounted for $341.6 million, an increase of 58.4 per cent. This means the Chinese market absorbed as much as 98.9 per cent of Vietnam’s total lobster exports globally, equivalent to 77.6 per cent of total shrimp export value to the region.

Despite offering significant growth potential, the Chinese market also presents risks for exporters. The appreciation of the Chinese yuan by approximately 4 per cent against the US dollar in 2025 has added competitive pressure on Vietnamese shrimp in the market. In addition, Vietnam’s shrimp industry continues to face stiff competition from major exporting countries such as Ecuador and India.

In terms of product structure, VASEP noted that whiteleg shrimp remained the leading export item, generating $573 million, up 6.3 per cent on-year and accounting for 53.6 per cent of total export value. Black tiger shrimp reached $80.7 million, up 10.8 per cent.

The most notable growth came from the 'other shrimp' category, which brought in nearly $415 million, up 39.3 per cent. Within this segment, lobster alone contributed $345.5 million, rising 57.4 per cent and becoming the sector’s largest growth driver in the first quarter.

Shrimp exports to the EU reached $120.4 million, up 16.7 per cent, while exports to Japan totalled $117.4 million, edging up 1.7 per cent.

Among the five key export markets, only the US recorded a decline, with export turnover falling 28.8 per cent on-year to approximately $95.8 million.

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