According to data from Vietnam Customs, the value of Vietnam's tuna exports to the UAE has steadily grown after a decline in 2020 due to the impact of the COVID-19 pandemic. Specifically, tuna export value to the UAE increased from $1.6 million in 2019 to nearly $4 million in 2023, reflecting a 139% rise over five years. Currently, Vietnam is one of the UAE’s top three tuna suppliers. However, in 2024, tuna exports to the UAE have shown a fluctuating trend, with periods of both increases and decreases. As of the end of September 2024, tuna exports to the UAE were nearly on par with the same period in 2023.
The UAE mainly imports frozen tuna meat/loins from Vietnam under HS code 0304, as well as a smaller quantity of canned tuna products. Currently, imported tuna products face a 5% import tariff. Vietnamese exporters are optimistic that once the Free Trade Agreement (FTA) between Vietnam and the UAE comes into effect, seafood import tariffs will drop to 0%, increasing the competitiveness of Vietnamese tuna products in the UAE market.
Beyond tariffs, one of the biggest challenges for exporters to the UAE is meeting the strict Halal certification requirements. Products must not contain any ingredients prohibited by Islamic law, must not come into contact with any materials or equipment that are forbidden in Islamic law during production, and must not be mixed with any ingredients that are not Halal-compliant. Vietnamese companies are actively working to address these concerns to ensure full compliance.
Currently, the UAE is an economic leader in the Arab world, ranking 17th out of 61 economies for competitiveness globally. The country’s per capita seafood consumption is higher than the global average, while agriculture accounts for less than 1% of its GDP. As a result, about 90% of the UAE’s seafood consumption is met through imports. Furthermore, the UAE’s economy is considered one of the most stable in the world.
The International Monetary Fund (IMF) forecasts that the UAE’s GDP will grow by 4% in 2024 and reach 5.1% in 2025. In contrast, the Middle East and Central Asia regions are projected to grow at only 2.4% and 3.9%, respectively, during these years. UAE stands out due to its strong non-oil economy and effective public policy.
Given these factors, the UAE is well-positioned to become a key trading partner for Vietnam’s tuna industry, offering significant growth potential in the coming years.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
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