HCMC – Vietnam’s tuna exports amounted to nearly US$93 million in October, a 22% year-on-year increase, according to the General Department of Vietnam Customs.
This milestone pushed the total export value in January-October to over US$821 million, up by 18% over the same period last year. It is the first time in more than two years that monthly tuna export value has surpassed the US$90 million mark.
The Vietnam Association of Seafood Exporters and Producers (VASEP) predicts that if this growth continues, Vietnam’s total tuna exports in 2024 could reach US$1 billion, an 18% increase against 2023.
Key markets showed robust growth in October, except for the European Union (EU) and South Korea.
Tuna exports to the EU fell by 15% in October due to expired quotas and IUU (illegal, unreported, and unregulated fishing) issues. However, thanks to strong performance earlier in the year, total exports to this market still picked up by 17%.
After a third-quarter slowdown, exports to the U.S. rebounded with a 30% increase in October. Year-end holiday demand and the presidential election impact have driven this growth.
The recovery of Japan’s economy and a stronger yen led to a 31% surge in tuna exports to this market in October.
Exports to the Middle East have been growing rapidly. The recently signed Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA) has provided momentum despite ongoing geopolitical conflicts in the region.
