Oct 2016: Up 4-fold in Vietnam tuna exports to Italy

The U.S

As of Oct 2016,Vietnam’s tuna exports to the U.S valued at US$164.9 million, accounting for 40.2% of total exports, increasing by 0.6% year on year. The shipments to this market remained stable in the last three years. So far, the U.S kept the 1^st rank in top largest importers of Vietnam’s tuna.

Currently, Viet Nam stayed as the 2^nd largest supplier of tuna to the U.S (behind Thailand). In particular, imports of processed tuna (HS code 160414) accounted for the largest share of 53-55% in total tuna imports into the country. According to the ITC, in the first 8 months of 2016, Thailand, Ecuador, Fiji, China and Vietnam were top 5 largest sellers of processed tuna (HS code 160414) to the U.S. However, processed tuna products from Thailand picked up 37-48% in total import value of processed tuna into the U.S.

The EU

In the first 10 months of 2016, Vietnam’s tuna exports to the EU reached US$87.8 million, accounting for 21.4% of total export value, rising by 4.9% over the same period last year. Of that, shipments to 2 biggest importers in the bloc, including Italy and Belgium increased by 147.7% and 19.2%, respectively; while those to other major markets such as Germany (-36%) declined compared to the same period last year.

In the period,exports to Italy took up the highest growth. In Oct 2016, sales to this market reached US$6.8 million, sharply increasingly by 340.4% compared to Oct in 2015. In the first half of this year, tuna imports into Italy were worth by US$421 million, up 2.7% year on year. Of that, imports of frozen tuna touched US$71.5 million, rising by nearly 17%, accounting for over 17%, whereas those of canned/processed tuna hit nearly US$350 million, climbing by 0.2%, accounting for 83%.

Viet Nam mainly exports frozen yellowfin tuna (HS code 030487) to Italy, and ranks the 1^st out of top suppliers to this market, accounting for 28%. The item will be an advantage of Viet Nam in the coming time, when the EVFTA takes effect, then frozen tuna is subject to the import duty of 0%.

ASEAN and others

Through Oct 2016, Vietnam’s tuna exports to ASEAN reached US$37 million, accounting for 9% of total imports and increasing by 16.8% over the same period last year. Of that, exports to Thailand reached US$26.5 million, up 22.8%. Currently, Viet Nam stayed as the 11^th largest tuna supplier to Thailand. In the first 8 months of 2016, Thailand mainly imported tuna from Taiwan, China and Papua New Guinea as well as increased exports to the U.S, Australia and Japan.

In the first 10 months of 2016, Vietnam’s tuna exports to other potential markets such as Israel and China also significantly increased by 22.7% and 54.6%, respectively, over the same period last year. However, exports to Japan fell by 12%, those to Canada down 2.7%, and those to Mexico down nearly 25% year on year.

Written by Ta Ha

Compiled by Dieu Thuy