(vasep.com.vn) In 2025, Chile imported more than USD 156 million worth of tuna, up 8.1% compared to the previous year and the highest level in the past five years. As the supply structure in this market is rapidly shifting, Vietnamese tuna is facing both opportunities to expand market share and increasing competitive pressure from Thailand, Colombia, and China.
Tuna imports reach a five-year high
According to data from the International Trade Centre (ITC), Chile’s total tuna imports increased from USD 104 million in 2021 to USD 156 million in 2025, representing nearly 50% growth over five years. In 2025 alone, imports rose by 8% compared to 2024, following a strong recovery the previous year. This indicates that although Chile is not a very large market, it is maintaining a positive and increasingly stable import trend for tuna products.
Over the five-year period, import demand has not followed a straight upward trajectory but has fluctuated in cycles. After a sharp increase in 2022, imports slowed in 2023 before rebounding in 2024–2025. This suggests that Chile’s demand remains relatively resilient and is gradually opening up more opportunities for suppliers outside the region.
Rapid shifts in supply structure intensify competition
Chile’s import landscape in 2025 shows significant changes among suppliers. Thailand remains the largest source, with exports reaching USD 63 million, far ahead of others. It is followed by Colombia with nearly USD 25 million, Ecuador with USD 23.8 million, China with USD 23.6 million, and Vietnam with USD 15 million. Vietnam thus ranks as the fifth-largest tuna supplier to Chile by value.
Notably, import trends differ across suppliers. Exports from Thailand, Colombia, and China to Chile increased in 2025, while those from Ecuador declined sharply and Vietnam also recorded a decrease. This indicates that Chile is restructuring its import sources in a more flexible manner, reducing dependence on a few traditional suppliers.
Vietnamese tuna declines in 2025 but rebounds strongly in early 2026
For Vietnam, the picture in 2025 was somewhat mixed. According to available data, Vietnam’s tuna exports to Chile reached USD 13 million in 2025, down from USD 18 million in 2024. However, this decline did not continue into 2026. In just the first two months of 2026, exports to Chile exceeded USD 3 million, up 125% year-on-year. This strong rebound signals that Chile remains a market with considerable potential for Vietnamese exporters.
Import trends favor flexible supply and market-fit products
Chile’s import trends show two key characteristics. First, total import demand continues to grow despite global trade volatility. Second, there is a clear shift toward more flexible sourcing. Beyond price, Chilean importers are increasingly concerned with stable delivery, appropriate product mix, and responsiveness.
The rise in imports from Colombia alongside a sharp decline from Ecuador suggests that factors such as geography, logistics, and market strategies are playing a growing role in purchasing decisions.
In terms of products, Chile has solid demand for frozen tuna loins and processed/canned tuna—segments where Vietnam already has a presence. Meanwhile, FAO GLOBEFISH reports that global tuna trade in recent years has been increasingly driven by demand for convenient, ready-to-eat products rather than raw materials alone. This trend benefits exporters with strong processing capabilities.
Opportunities and challenges
The biggest opportunity for Vietnam in Chile in 2026 lies in the market’s continued import growth and Vietnam’s existing foothold. In addition, bilateral trade is supported by both the VCFTA and the CPTPP, providing favorable conditions for Vietnamese exports. As a CPTPP member, Chile has reduced many tariff lines to 0% either immediately or on a scheduled basis, including those applied to Vietnam.
However, opportunities come with challenges. Price competition remains intense, with Thailand maintaining a dominant position while China and Colombia are expanding rapidly. Logistics costs are another disadvantage for Vietnam when exporting to South America compared to geographically closer competitors.
Furthermore, the global tuna market in early 2026 continues to be affected by constrained raw material supply and high input costs, making price-sensitive markets like Chile even more demanding.
Overall, Chile is a “mid-sized but worthwhile” market for Vietnamese tuna in 2026. Import demand is growing, supply structures are shifting, and Vietnam’s export trend has turned positive from the very beginning of the year.