With a value of $3.7 billion recorded in the first nine months of 2026, Vietnam’s shrimp exports maintain an 11% growth rate, supported mainly by the Chinese market and the CPTPP bloc. However, the growth momentum is visibly slowing down due to sharp declines in the US and EU markets.
Growth momentum slows down in the third quarter
According to data provided by Vietnam Customs, shrimp exports reached $467.9 million in September 2026—a 4% increase compared to the same period last year, but a slight decline compared to August.
The cumulative total for the first nine months stands at $3.7 billion (+11%). However, the overall pace of growth is slowing down compared to the first half of the year, which saw a 14% increase. Tariff pressures, intense international competition, and raw material supply difficulties represent the main challenges for processors in the remaining months of the year.
China becomes the primary driver while the US and EU register sharp declines
Trends across key markets are strongly polarized:
- China (and Hong Kong): China remains the largest destination market, with imports of nearly $1.2 billion (+37%), representing 33% of total Vietnamese shrimp exports. Together with Hong Kong, the value reaches $1.3 billion (+35%), with strong demand for lobster, particularly blue lobster, contributing significantly to this result.
- United States: Exports to the US total only $498 million, down 15% compared to last year, with September marking a sharp decline of 32%.
- European Union: Shipments to the European market fell by 4.9% to $406.4 million, following a 12.5% drop recorded in September.
CPTPP bloc and Japan cushion the decline from Western markets
Positive results from the Asia-Pacific region manage to partially offset losses in the US and European markets:
- Japan: Generated $440.9 million, up 6.4%.
- Australia: Marked a substantial growth of 18.5%, reaching $211.9 million.
- Canada: Recorded $130.5 million, up 11%.
In total, exports destined for CPTPP member countries surpassed the $1 billion mark (+10.2%), providing a much-needed boost for the Vietnamese industry in the face of headwinds in the US and EU.
