INTERNATIONAL INVESTMENT
AND PORTAL
Vietnam’s spending on imported seafood rose sharply in early 2025, driven by demand from major Asian and European suppliers.
In the first 10 months of 2025, Vietnam imported seafood worth around $2.73 billion, a more than 30 per cent increase from the same period last year. Data from the Ministry of Agriculture and Rural Development show that October alone saw imports exceed $304 million, with India, Indonesia, and Norway supplying 15 per cent, 14.2 per cent, and 10.7 per cent of the total import value, respectively.
Compared to last year, imports from India doubled, those from Indonesia rose by 58 per cent, and imports from Norway increased by 17 per cent.
Most imported seafood is used for export processing and domestic consumption. According to the Vietnam Association of Seafood Exporters and Producers, the country currently has over 600 processing plants exporting to the US, EU, Japan, and China, though many still rely on imported raw materials to sustain operations.
India, one of the world’s top three shrimp exporters, offers shrimp prices 10-15 per cent lower than those in Vietnam, helping local firms expand their low-cost product segments. Indonesia mainly supplies tuna, squid, and offshore-caught seafood, while Norway exports salmon, cod, and other cold-water species catering to high-end and hospitality markets.
According to the Norwegian Seafood Council, Vietnam ranks among Norway’s five fastest-growing seafood markets, following China, South Korea, the UK, and the Netherlands.
In 2024, Norway exported over 24,000 tonnes of salmon to Vietnam, making it Norway’s largest market in Southeast Asia.
By Thai An
