Tridge summary
Vietnam's aquatic product exports, particularly canned tuna, have experienced a significant surge in the first quarter of the year, with a 53% increase in exports amounting to over 196 million USD, as reported by the Vietnam Association of Seafood Exporters and Producers (VASEP). Despite a decline in exports to traditional markets like the US and the EU, Vietnamese tuna exporters have successfully penetrated new markets, increasing their global presence to over 80 countries. Notably, exports to countries within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), including Canada and Chile, have shown remarkable growth. Vietnam has become the third largest tuna supplier to Canada, with expectations of further growth as Canadian consumption of aquatic products is projected to rise over the next five years. Additionally, exports to Portugal, a key EU market, have doubled in comparison to the previous year.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The exports of Vietnam’s aquatic product posted positive growth in the first quarter of this year, bringing hope for the entire seafood industry, including processed tuna products. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), canned tuna exports in the reviewed period surged 53% year-on-year, bagging over 196 million USD, a year-on-year increase of 21%. Nguyen Ha, VASEP's tuna market expert, said that this year, Vietnamese tuna exporters have expanded export markets right from the beginning of the year. In the first quarter of this year, tuna products were shipped to more than 80 markets, compared to 70 markets in the same period last year. Tuna exports to the US and the EU declined, but the remaining markets saw high growth. Especially, in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) markets, tuna exports continued to grow. Notably, the shipments to Canada and Chile rose 146% and 116%, respectively. ...
Source: WTOCenter
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
Related market data
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.