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.
(seafood.vasep.com.vn) Vietnam's tuna sector faced numerous challenges in the latter half of 2024. While the year proved memorable, with export turnover reaching nearly USD 1 billion, maintaining this growth trajectory requires renewed impetus for the tuna industry.
With Tet (Lunar New Year) approaching, fishermen along Vietnam's central coast are capitalizing on favourable weather conditions to intensify their fishing efforts, meeting the burgeoning demand for seafood across the nation.
(seafood.vasep.com.vn) Shrimp exports in 2024 reached nearly USD 4 billion, a 14% increase compared to 2023. Reflecting on 2024, the shrimp industry demonstrated resilience and persistent effort in overcoming challenges, solidifying its strong position in exports.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that in the past 5-6 years, Vietnam's seafood export value has only hovered around 8-10 billion USD/year. To reach the value of 16 billion USD by 2030, Mr. Nam proposed establishing corporations/enterprises to exploit the sea.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
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