July 24, 2026
 

Vietnam shrimp exports hit US$2.35 billion in H1 2026 as China surge offsets US decline

Lobster exports to China emerged as the industry's single biggest growth driver, while US-bound shipments fell 15% over the six-month period amid anti-dumping duties and tightened traceability requirements.

Vietnam's shrimp exports reached US$2.35 billion in the first half of 2026, up 14.2% year on year, with June alone recording US$458 million - a 24% increase on the same month in 2025, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Shrimp accounted for 40.7% of Vietnam's total seafood export turnover in the period.

China and Hong Kong were the dominant growth engine, with exports to the two markets reaching US$845 million in H1, up 44% year on year and representing 36% of total shrimp export value. The primary driver was lobster, which VASEP categorises under "other shrimp": lobster exports in Q1 alone reached US$345.5 million, up 57.4%, with US$341.6 million - or 77.6% of total lobster export value - flowing to China and Hong Kong. VASEP attributed the trend to strong demand for fresh, high-value products tied to Lunar New Year gifting and festive banquets, as well as logistics advantages that make Asian markets faster and cheaper to serve than the US or Europe.

Other Asian markets also performed well. Exports to Japan reached US$271 million in H1, South Korea US$169 million and Australia US$126 million, all recording year-on-year growth. EU exports rose a modest 2%, reflecting a slow demand recovery in that market.

The US market presented a sharply split picture. June exports to the US reached US$62 million, up 32% on the month, but VASEP cautioned that this likely reflected importers rushing to clear shipments ahead of tariff changes rather than a genuine recovery. For the full six-month period, US-bound exports fell 15% to approximately US$290 million. The headwinds include a 25.76% anti-dumping tariff imposed on two mandatory respondents in the 19th administrative review, a separate rate of 4.58% for 22 other companies, and an additional 10% tariff under Section 122 that took effect on 24 February 2026. Tightened antibiotic controls, HACCP standards and traceability requirements introduced in early March added further pressure.

On the competitive front, VASEP data showed Ecuador continued to outpace rivals in the first five months of 2026, exporting 668,763 tonnes of shrimp valued at US$3.52 billion - up 13% in volume and 12% in value. Indonesia, by contrast, exported 78,341 tonnes worth US$696 million, down 16% in volume and 9% in value despite a 53% surge in shipments to China. Thailand also contracted, with exports of 46,201 tonnes falling 6.51% in volume and 10.42% in value.

VASEP said Vietnam's shrimp industry must prioritise deep processing, quality improvement and market diversification to sustain competitiveness, and called for greater investment in high-quality breeding stock, biotechnology and disease control alongside stricter biosecurity compliance across hatchery operations.