According to statistics from Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's tuna exports by the end of August earned 648 million USD, a sharp increase of 19% over the same period last year.
In terms of markets, there are 4 markets that are importing the most tuna from Vietnam: the US, EU, Israel and Russia. Of which, the US spent more than 243 million USD importing tuna from Vietnam, an increase of 17% over the same period last year. Ranked 2nd is the EU with 140 million USD, an increase of 22%. Ranked 3rd is Israel with more than 48 million USD, a sharp increase of 47% over the first 8 months of 2023.
Russia is the market that is witnessing a sharp increase in tuna imports from Vietnam among the key markets and ranks 4th with 29 million USD, an increase of 90% over the same period last year. Among Vietnam's tuna products exported to Russia, frozen tuna meat/loins are the main product, accounting for 75% of total export turnover.
In 2023, Vietnam had more than 15 enterprises participating in exporting tuna to the Russian market. Out of which, Tuna Vietnam, Hai Trieu and AHFishco were the 3 leading companies in exporting tuna to Russia, accounting for more than 61% of total export turnover.
Tariff incentives after our country signed Vietnam-Eurasian Economic Union Free Trade Agreement (VN-EAEUFTA) in 2015, have helped Vietnam's seafood products, including tuna, to have great competitiveness in this economic market, especially Russian market.
Specifically, Vietnam is currently the 3rd largest tuna supplier to Russian market after China and Thailand. While Vietnam's main export item is frozen tuna meat/loin code HS030487, which is exempted from tax when exported to Russia under agreement in VN-EAEUFTA, products from China and Thailand are subject to a tax of 3.8%.
According to VASEP, transportation of goods from Vietnam to Russia is now more convenient. Russian shipping corporations have opened a direct shipping route from Ho Chi Minh City - Hai Phong - Vladivostok and a number of other shipping lines have operated the new route, helping to transport goods faster, with shorter shipping times.
Currently, skipjack tuna is main raw material for processing and exporting canned tuna from Vietnam. In 2023, canned tuna exports accounted for over 30% of Vietnam's total tuna export turnover, reaching nearly 255 million USD, up 9% over the same period.
Raw materials for tuna export production in the first half of the year mainly come from stockpiled goods at the end of 2023 and the first months of the year. In the coming time, tuna exports will be less due to lack of raw materials for processing and export.
In 2023, along with difficulties of the world economy, Vietnam's tuna exports only brought in 845 million USD, down 17%. In the first quarter of 2024, tuna products were exported to more than 80 markets, while last year it was 70 markets. However, experts predict that tuna industry will find it difficult to achieve the billion USD target as in 2022.

Source: Vitic/ congthuong.vn