Vietnam tuna exports to Spain recovers

Tuna exports by Vietnam to Spain in September hit US$ 301 thousand, up 17% year on year, driving total tuna exports to the market in Jan-Sep to reach more than US$ 9.6 million.

In Jan-Sep 2014, tuna loin was the key export item by Vietnam to Spain with the proportion of 60%. In contrast, export value of the item in Jan-Sep 2015 was only US$ 1.5 million, down 70% year on year. Exports of processed tuna witnessed a year on year rocket of 1,210% to reach US$ 6.5 million. This item now accounts for 67% of total tuna exports by Vietnam to the market.

Statistics from the International Trade Center (ITC) showed that in Jan-Jul 2015, Spain was the world’s 4^th largest tuna importer behind Japan, the U.S. and Thailand. Total tuna imports into Spain surpassed US$ 529 million, down 6.7% year on year.

Spain mainly imported processed tuna. Import value of this item in Jan-Jul 2015 reported a slight growth of 0.42%. Imports of tuna loin, meanwhile, rose by 17% and imports of frozen/live/fresh tuna were down 16.6%.

While imports of the item from Mexico, Ecuador and South Korea into Spain grew, those from Vietnam downed. Vietnam ranked the 4^th position Spain’s top tuna loin suppliers. In Jan-Jul 2015, tuna loin imports by Spain from Mexico valued US$ 9.3 million of, up 143% year on year; those from Ecuador valued US$ 5.4 million, up 47% and those from South Korea valued US$2.6 million, up 7.7%.

Though ranked at the 7^th position, Vietnam has been boasting tuna exports to the market, reporting the strongest growth among top 7.  

Spanish economic growth in QII/2015 reported the highest rate since 2007. Better economy will raise consumption demand, which explains tuna import growth in September. Economic growth is expected to be maintained in the coming months and therefore, tuna exports from Vietnam to the market will get higher.