Vietnam Tuna Export Value To Hit USD 1 Billion This Year End?

Vietnam’s tuna sales to global destinations witnessed exponential growth this year which would be reflected in its year-end export value. The Vietnam Association of Seafood Exporters and Producers forecasts exports to hit USD 1 billion as 2024 comes to a close. In October alone, it reached nearly USD 93 million, a 22 percent increase compared to the same period in 2023.

The Asian nation had strong sales in the US, its main market for canned tuna, the EU, and Israel this year. Vietnam has a Free Trade Agreement with the UK which was inked in 2021 and renewed this year. It also has deals with Europe and other Asian nations, under the Regional Comprehensive Economic Partnership (RCEP), to sell tuna at reduced tariffs. All these helped boost trade. Atuna reported that Vietnam’s export revenue reached USD 728 million from January to September this year, an 18 percent jump YoY.