Vietnam's seafood export growth slows in May due đăng nhập bet88 US tariff policy

After months of strong growth since the beginning of the year, Vietnam's seafood exports showed signs of slowing in May 2025, reaching 1 million, a modest 2.7% year-on-year increase, marking the lowest growth rate since the start of 2025, according đăng nhập bet88 the Vietnam Association of Seafood Exporters and Producers (VASEP).

Cumulatively, the seafood export turnover in the first 5 months of the year stood at .2 billion, a year-on-year increase of 18.2%.

Ms. Le Hang, Deputy Secretary General of VASEP, explained that the slowdown was largely influenced by the US government’s announcement in April 2025 of a temporary 10% tariff on many Vietnamese imports, including seafood.

In response, Vietnamese seafood exporters rushed đăng nhập bet88 accelerate shipments đăng nhập bet88 the US in April and early May đăng nhập bet88 avoid potential tariff hikes, which could climb đăng nhập bet88 46% after July 9, 2025, when the 90-day US tariff suspension come đăng nhập bet88 an end.

As a result, seafood export turnover đăng nhập bet88 the US in May 2025 still reached nearly 0 million, reflecting a 9.7% increase year-on-year.

However, a feedback from businesses suggests shipping activities slowed after May 20, as companies sought đăng nhập bet88 mitigate trade risks amid rising costs, market volatility, and policy uncertainty, which ultimately impacted May’s overall export value.

Facing uncertainty over US tariff policies, many seafood companies have adjusted their market strategies, focusing on market diversification and value-added processing.

As a result, exports đăng nhập bet88 CPTPP markets—including Japan, Canada, and Mexico—maintained strong growth momentum, reaching 4 million in May 2025, a 7.9% increase year-on-year, bringing the cumulative five-month total export value đăng nhập bet88 these markets đăng nhập bet88 .15 billion, representing a 24.3% increase year-on-year.

“Many seafood companies are actively developing value-added product lines, such as fish balls, marinated fish, canned fish, and collagen extracted from by-products,” said Ms. Hang, noting that these products cater đăng nhập bet88 niche markets and the growing demand for convenience, especially in major Asian cities.

Exports đăng nhập bet88 mainland China and Hong Kong (China) also saw impressive growth, with May exports nearing 5 million and the five-month total exceeding 0 million, marking increases of 22.3% and 48.6%, respectively.

According đăng nhập bet88 VASEP, export activity đăng nhập bet88 the US will remain cautious until July, when the final tariff rates for certain Vietnamese products will be determined.