Vietnam’s tuna exports exceed US$900 million in 11 months

Vietnam’s tuna exports from January to November 2024

In November 2024, Vietnam’s tuna exports failed to maintain the strong growth momentum seen earlier, with the value increasing by only nearly four percent compared to November 2023, reaching approximately US$82 million. The total export value for 2024 is projected to reach approximately US$1 billion.

Canned tuna exports declined in November, with the value decreasing by eight percent compared to the same month last year. This is one of the main reasons why Vietnam’s tuna export growth has slowed down during the final months of the year.

Also in November, tuna exports to key markets, such as the EU, Israel, Russia, Japan, and the Republic of Korea decreased compared to the same period last year. Exports to the US kept growing, but the growth slowed down.

Regarding the EU market, tuna exports to Italy and Germany dropped sharply in November, by 95 percent and 39 percent, respectively, compared to the same period last year. In contrast, exports to the Netherlands increased, but the growth was modest at just three percent.

Tuna exports to Israel and Russia, after a period of strong growth, declined sharply in November. However, geopolitical instability in these two markets is affecting Vietnam’s tuna trade.

Regarding the CPTPP market bloc, tuna exports to Japan, after continuous strong growth in September and October, declined by six percent in November. However, thanks to the growth in previous months, exports to this market in the first 11 months still saw a slight year-on-year increase of four percent.

Meanwhile, tuna exports to Canada, after a period of decline, rebounded in November with an 11-percent increase compared to the same month last year. Along with Canada, exports to Mexico and Chile continued to maintain strong growth during November.

According to businesses, demand in export markets remains high, but challenges related to raw materials and procedures are hampering export activities. Therefore, businesses are urging the Government to promptly adjust the minimum allowable size for skipjack tuna (50cm) stipulated in Decree 37/2024/ND-CP, to facilitate next year’s export activities.