Vietnam’s tuna exports to Germany increased continuously in the first 2 months of 2023

Published 2023년 4월 10일

Tridge summary

In 2022, Germany was the largest tuna import market for Vietnam in the EU bloc, accounting for approximately 3% of Vietnam's total tuna export turnover and marking a 20% increase from 2021. The first two months of 2023 saw a significant rise in exports of canned and frozen tuna products from Vietnam to Germany, with increases of 28% and 68% respectively compared to the same period in 2022. However, the inflation rate in Germany, which peaked at 10.4% in October 2022 before falling to 8.1% in December, has led to an increase in food prices by 21.8% in February 2023 compared to the previous year. This inflation, along with the depletion of preferential tariff quotas and high inventories, is expected to negatively impact Vietnam's tuna exports to Germany in the coming year.

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

Original content

In 2022, Germany is the largest tuna import market of Vietnam in the EU bloc, accounting for about 3% of total tuna export turnover, up 20% compared to 2021. Canned tuna and frozen tuna meat/loin are still Vietnam's main export products to Germany, accounting for 63% and 30% respectively in the first 2 months of 2023. Compared to the same period in 2022, Vietnam's exports of both these products increased by 28% and 68% respectively. According to data from the Federal Statistical Office of Germany, the inflation rate in December 2022 dropped from a record high of 10.4% in October 2022 to 8.1%. Prices fell thanks to a one-time payment under the government bailout package to consumers' winter gas bills in December. According to statistics of Vietnam Customs, Germany is one of the few markets of Vietnamese tuna that can maintain a good growth momentum in the first two months of 2023 However, the effect of this package seemed to have waned in January 2023, when the inflation rate ...

Source: Vasep