Vietnamese tuna exports to the EU unexpectedly increased by 82% in the first month of the year

Published 2022년 3월 14일

Tridge summary

Vietnam's tuna exports to the EU have experienced a significant surge, with a 82% increase in January 2022 compared to the same period in 2021, amounting to around 15 million USD. This growth is due to the recovery of the euro area economies following the COVID-19 pandemic and the implementation of the Free Trade Agreement between Vietnam and the EU, leading to tariff preferences for Vietnamese tuna exports. Despite these positive developments, tuna processing and exporting businesses in Vietnam may face challenges such as increased production and transportation costs due to the ongoing Russian-Ukrainian conflict. In 2021, Vietnam's tuna exports to the EU reached 144 million USD, making it the 7th largest tuna supplier to the EU market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Association of Seafood Exporters and Producers (VASEP), after a tumultuous year, Vietnam's tuna exports to the EU have grown strongly. Specifically, in January, tuna exports to the EU reached about 15 million USD, up 82% over the same period in 2021, signaling a prosperous year for Vietnamese tuna in this market. Notably, many markets in the bloc are experiencing galloping growth of 3-4 figures over the same period such as Lithuania up 1,938%, Netherlands 243%, Belgium 215%... VASEP forecasts that tuna exports to the EU in 2022 will continue to grow well as the economies of the euro area countries recover strongly and reach the same scale as at the end of 2019, the time before the COVID-19 epidemic. -19. This has boosted the demand for tuna in EU countries to recover. In addition, the tariff preferences as agreed in the Free Trade Agreement between Vietnam and the EU (EVFTA) restarted in the first months of 2022 are creating impetus for Vietnam's tuna exports to ...

Source: Vietnambiz