Vietnam’s pangasius exports recorded a strong start to 2026, although growth was largely concentrated in January, while February already showed signs of softer momentum.
In February 2026, pangasius export turnover reached approximately USD 119 million, down 5% year-on-year. However, strong performance in January pushed cumulative export value for the first two months to USD 331 million, marking an increase of 28% compared to the same period in 2025. The decline in February was partly influenced by the Lunar New Year holiday, which affected processing schedules and export logistics.
China Continues to Lead Growth
China remained Vietnam’s largest pangasius market. Export value to China in February increased 19% year-on-year to around USD 26 million, bringing the total for January–February to USD 94 million, up 86% compared to the same period last year. This strong performance was largely supported by pre-holiday stocking demand.
US Market Faces Temporary Slowdown
Meanwhile, exports to the United States declined. February shipments fell 19% year-on-year to approximately USD 18 million, while cumulative exports during the first two months decreased 5% to USD 38 million.
Market analysts noted that softer consumption demand, cautious purchasing behavior, and uncertainties surrounding tariff policies have contributed to slower market activity in the US.
Although the overall January–February growth stood at 28%, much of the increase was driven by January’s strong rebound, while February experienced a more widespread slowdown across several markets due to seasonal factors. China, however, continued to maintain solid demand and remained a key contributor to overall export growth.
Market Diversification Continues
Vietnam’s pangasius export market is gradually becoming more diversified.
Brazil, currently among the leading destinations, recorded approximately USD 10 million in February exports, down 27% year-on-year, but still achieved an 8% increase for the January–February period, totaling USD 29 million.
Exports to Thailand increased 18% during the first two months of the year. Meanwhile, shipments to CPTPP countries rose 23%, reaching approximately USD 59 million, while exports to the EU posted modest growth of 7%.
These developments suggest that market diversification is helping reduce dependence on individual destinations and strengthening the sector’s resilience against market fluctuations.
Opportunities and Challenges Ahead
Despite positive signals, challenges remain. Tight whitefish supply in Europe continues to support pangasius demand. However, increasing tilapia exports from competing suppliers may intensify competition in the mid-range seafood segment where Vietnamese pangasius is strongly positioned.
In addition, geopolitical tensions in the Middle East remain an important factor to watch, as they may impact global shipping routes, freight costs, and seafood trade flows in the coming months.a
