Impressive seafood export turnover
According to data from Vietnam Customs, Vietnam's tuna exports in December 2024 reached nearly USD 86 million, a 17% increase compared to the same period in 2023. Cumulatively for the entire year 2024, tuna export turnover reached USD 989 million, a 17% increase compared to 2023.
Over the past year, exports of all Vietnamese tuna product groups increased year-on-year. Notably, exports of other processed tuna products, after a continuous decline in the first months of the year, experienced continuous growth in the final months, increasing by 24% year-on-year and accounting for 17% of total export turnover. In contrast, exports of canned tuna products tended to decline in the latter half of the year. Cumulatively for 2024, canned tuna exports increased by 17%.
Vietnam's frozen tuna meat/loin products still hold the highest proportion. Exports of this product group in 2024 rebounded and showed a rapid upward trend in the final months of the year.
Across markets, by the end of 2024, tuna exports to key markets remained higher than in 2023. However, export growth rates tended to be unstable in the second half of the year. Notably, tuna exports to the EU saw a slight rebound in December.
Along with the EU, tuna exports to Canada, after a period of decline, also accelerated in the final two months of the year. In December 2024 alone, tuna exports to Canada increased by 40% compared to the same period in 2023.
Conversely, exports to Japan have been declining continuously in the last two months of the year. In December 2024, exports to this market decreased by 27%. Exports to Israel also experienced a decline in December, with a 28% decrease compared to the same period.
Opportunities and challenges in 2025
Vietnam's tuna industry is expected to maintain its growth momentum in 2025 due to continued growth in demand for products. Furthermore, innovations in tariff policies in international markets, particularly in the US, are expected to provide a boost to exports.
Analysis suggests that in a potential second term of a US presidency under the previous administration, Vietnam could continue to benefit from high tariffs imposed on products imported from China. Additionally, the initial months following the reinstatement of tariff preferences under trade agreements present a favorable opportunity for businesses to increase exports to various markets.
Navico, or Nam Viet Joint Stock Company, stands as one of Vietnam's pioneering enterprises in the farming, processing, and export of aquatic products, particularly pangasius (catfish). Established in 2000 in An Giang Province – the largest aquaculture hub in the Mekong Delta – Navico has solidified its position in the international market through superior product quality and a commitment to sustainable development. On April 4, 2025, Navico signed a green trade credit agreement with United Overseas Bank (Vietnam) (UOB Vietnam), marking a significant milestone in its journey toward green transformation.
According to the Board of Directors' report, IDI successfully maintained its traditional customer base in 2024 while expanding into high-potential markets, particularly the United States, benefiting from a significant reduction in anti-dumping duties.
Recently, Vietnam's La Vong fish cake was ranked number 1 in the list of the world's best white fish dishes by the world-famous culinary website Taste Atlas.
Currently, many households in the suburbs of Ca Mau City are implementing a fairly effective pangasius farming model, bringing in a stable source of income. Unlike the industrial scale in other provinces in the region, the pangasius farming model here is quite simple, low-cost, and is considered a promising direction for farmers.
Over 200,000 ha of Vietnam's shrimp farms are cultivated organically and ecologically, certified by international organizations.
Vĩnh Hoàn Corporation (stock code: VHC – HoSE) has outlined an ambitious business plan for 2025, targeting revenue of VND 13,800 billion (up 10.3% from 2024) and after-tax profit of VND 1,500 billion (up 22.3%). This follows a successful 2024, where the company recorded revenue of VND 12,513 billion (exceeding 109% of the plan) and after-tax profit of VND 1,226 billion (surpassing 123% of the VND 1,000 billion profit target). The 2025 Annual General Meeting of Shareholders is scheduled for April 24 in Ho Chi Minh City to discuss these plans.
Sa Giang Import-Export Corporation continues to assert its position as one of the leading export enterprises in Đồng Tháp, achieving a revenue of thousands of billions of VND from shrimp crackers and rice paper in the past year.
(seafood.vasep.com.vn) After three years of implementation, the UK-Vietnam Free Trade Agreement (UKVFTA) has yielded positive results for Vietnam’s tuna exports. The United Kingdom officially became a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on December 15, 2024. This is expected to bring significant benefits for seafood enterprises, particularly in terms of tariffs and intra-bloc origin regulations - especially for tuna products.
On March 3, Sa Giang and Citek officially launched a comprehensive enterprise digital transformation project using the GROW with SAP solution.
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