In October 2024, Vietnam’s tuna exports soared to nearly $93 million, marking the highest monthly performance in 25 months and a 22% increase compared to the same period last year. With total exports on track to reach $1 billion this year, the industry is set for an 18% growth over 2023, driven by robust demand from key markets like the US, Middle East, and Japan.
Exceptional Growth Across Key Markets
Vietnam’s tuna export industry is thriving in global markets, demonstrating remarkable growth:
- United States: Exports surged by 30%, fueled by strong consumer demand and competitive pricing.
- Middle East: A dynamic market showing substantial growth, contributing significantly to the overall performance.
- European Union: Despite a 15% decline in October due to IUU fishing challenges, total exports to the EU grew 17% in the first ten months of 2024.
Strong Recovery in Japan
Japan experienced a robust recovery, with tuna imports climbing by nearly 31% in October. Economic improvements and a stronger yen have increased demand for premium seafood products, positioning Vietnam as a key supplier.
A Promising Outlook for 2024
Vietnam’s tuna exports are set to achieve a record-breaking $1 billion this year, underscoring the industry’s resilience and adaptability in navigating global challenges and capturing new opportunities.
Source: Vasep
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