Vietnam's tuna exports to South Korea increased 2.5 times

Published 2023년 9월 1일

Tridge summary

Vietnam's tuna exports to Korea have experienced a significant increase in the first 7 months of 2023, reaching over $7 million, which is 2.5 times higher than the same period in 2022. The depreciation of the Korean Won against the US dollar has caused the price of imported tuna to rise, leading Korea to increase imports from countries like Vietnam. Processed and canned tuna exports from Vietnam to Korea have particularly seen a strong increase, with canned tuna exports growing by 468% compared to the same period in 2022. Vietnam is currently the largest source of processed and canned tuna for Korea, making up almost 77% of the country's total imports in this product group.

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Original content

Statistics from Vietnam Customs show that, while Vietnam's main tuna import markets decreased, Vietnam's tuna exports to Korea increased impressively. Cumulatively in the first 7 months of 2023, tuna exports to this market have increased 2.5 times compared to the same period in 2022, reaching more than 7 million USD. Vietnam's tuna exports to the Korean market increased impressively - Illustration According to the Vietnam Association of Seafood Exporters and Producers (VASEP), this year although the Won has depreciated sharply compared to the US dollar, causing the price of imported tuna to increase, but due to the catch of As the fleet decreased, Korea had to increase imports from other countries, including Vietnam. Among Vietnam's exported tuna products, processed and canned tuna exports to Korea are currently increasing strongly, especially canned tuna increased by 468% over the same period in 2022. In the Korean market, Vietnam is the 8th largest source of tuna, but is the ...

Source: VNRuralEconomics