Vietnam’s tuna exports to Japan recover faster than expected

Among the tuna products exported to Japan, processed tuna products under HS code 16—such as smoked tuna and marinated tuna cuts (excluding canned tuna)—are the leading export category. These products are the only group to record an increase in export value during the first ten months of the year.

Currently, over 20 Vietnamese enterprises are exporting tuna to Japan. Among them, Mariso Vietnam, AHFishco, and Evertrust Food Co., Ltd., are the top three exporters, accounting for 66% of Vietnam's total tuna export turnover to the Japanese market.

Despite Japan's overall decline in tuna imports from major suppliers in the first eight months of 2024, Vietnam has managed to record the smallest drop, according to data from the International Trade Centre (ITC).

Japan’s economic indicators also signal a positive shift. The Japanese Ministry of Internal Affairs and Communications (MIC) reported that household spending in May 2024 increased for the first time after 14 consecutive months of decline. Furthermore, Japan's economy has returned to positive growth after two quarters of contraction. The Japanese government is also considering a JPY 21.9 trillion (approximately USD 141 billion) stimulus package to mitigate the impact of inflation on households.

This economic rebound is expected to boost seafood consumption, including tuna, and drive Japan’s seafood imports upward