In 2024 Vietnam tuna exports slow to recover
08:23 02/02/2024

(seafood.vasep.com.vn) After a period of positive growth in the second quarter of 2023, Vietnam's tuna exports to Lithuania decreased in the last months of the year. In October 2023 alone, tuna exports Lithuania decreased by 80% compared to the same period in 2022

(seafood.vasep.com.vn) In September 2023, Vietnam's tuna exports reached 72 million USD, down 8% over to the same period in 2022 and down 18% over to August.

(vasep.com.vn) If last year, Spain was Vietnam's third largest tuna import market in the EU, this year this market has dropped out of the top. Tuna exports to Spain have continuously declined. Accumulated in the first 8 months of 2023, tuna exports to Spain decreased by 49% compared to the same period in 2022, reaching more than 7 million USD, this is the lowest level in the past 5 years.

(vasep.com.vn) Because the fishing output of the fleet in the seas decreased, many EU countries had to increase imports from sources outside the bloc in this year, including Finland. Although this Nordic country's tuna imports in the first half of this year were only at the same level as the same period last year, imports from Vietnam are strongly increasing.

(seafood.vasep.com.vn) In August 2023, Vietnam's tuna exports reached more than 87 million USD, down 5% over the same period last year. This is the lowest decrease and the highest value since the beginning of this year. Cumulatively in the first 8 months of this year, tuna exports reached 545 million USD, down 25% over the same period.

(seafood.vasep.com.vn) While other countries in the CPTPP bloc reduced tuna imports from Vietnam, Chile has continuously increased imports since the beginning of 2023. Only in August 2023, tuna exports to this country will increase by 75%, reaching nearly 1.3 million USD.

(seafood.vasep.com.vn) In recent years, the US has always been the leading market for tuna imports from Vietnam. Vietnam's tuna export turnover has increased 2.5 times after just 10 years of Vietnam and the US establishing a comprehensive partnership, reaching a record level of nearly 487 million USD in 2022.

(seafood. vasep.com.vn) According to statistics of Vietnam Customs, after a sharp drop of 51% in May 2023, Vietnam's tuna exports to the UK continued to increase in the following 2 months. This growth has contributed to bringing the total export turnover to the UK in the first 7 months of 2023 to 77% higher than the same period in 2022, reaching more than 4.5 million USD.

(seafood.vasep.com.vn) In the first 7 months of 2023, Vietnam's tuna export was still 28% lower than the same period last year, reaching US$458 million. Low demand and purchasing power in some main markets have affected Vietnam's tuna exports. Moreover, the price of raw tuna is still high, which has pushed up the price of the final product, making it more difficult for consumption demand to recover, especially in the current economic context.

(seafood.vasep.com.vn) According to statistics of the US Department of Agriculture, imports of frozen tuna meat/loin (HS code 03048700) into this market in the first 5 months of 2023 were still lower than the same period of the same period, reaching more than 13 thousand tons, worth 170 million USD, down 38% in volume and 42% in value.

(seafood.vasep.com.vn) 2023 is a challenging year for the Vietnamese tuna industry, with raw tuna prices rising and demand in major markets falling. Therefore, from the beginning of the year, Vietnam's tuna exports have continuously declined over the same period.

(seafood.vasep.com.vn) After a decline in April 2023, Vietnam's tuna exports to the EU increased again in May, up 15% over the same period in 2022. However, this increase can not compensate for losses in the previous months. Therefore, Vietnam's tuna exports in the first 5 months of 2023 still decreased slightly by 4% compared to the same period last year.

(seafood.vasep.com.vn) Vietnam's tuna exports in May 2023 continued to decrease by 26% over the same period in 2022, reaching nearly $70 million. Therefore, in the first 5 months of the year, tuna exports still decreased by 31% compared to the same period last year, reaching more than 317 million USD.

(seafood.vasep.com.vn) In April 2023, Vietnam's tuna exports remained at a lower level than in the same period last year. Tuna export value in this month only reached $67 million, down 38% compared to the same period in 2022. Therefore, cumulatively in the first 4 months of the year, tuna exports still decreased by 33%, reaching nearly $248 million.

(seafood.vasep.com.vn) Exports of Vietnamese tuna to China were not positive in 2022. The export value to this market reached nearly $8.5 million, down 11% compared to 2021. However, entering 2023, export to this market is very promising.


  • Vinh Hoan
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