Vietnam's tuna exports to South Korea increased sharply in the first 7 months of the year

Published 2023년 9월 8일

Tridge summary

In July 2023, Vietnam's seafood exports decreased by 11% compared to the previous year, with shrimp exports down 10%, pangasius down 20%, and other fish down 12%. However, the tuna market is considered a "bright spot" for Vietnam's seafood industry, with exports to South Korea increasing sharply. Vietnam is the largest supplier of processed and canned tuna to South Korea, with its products accounting for nearly 77% of Korea's total imports in that category. Overall, it is forecasted that seafood exports will earn over $9 billion by the end of 2023, a decrease of 15%-16% compared to the previous year.

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

Original content

Source: markettimes.vn According to preliminary statistics of the Vietnam Association of Seafood Exporters and Producers (VASEP), in July 2023, Vietnam's seafood exports were estimated at US$830 million, down 11% year-on-year. 2022. In which, shrimp exports decreased by 10% to about 345 million USD, pangasius reached 150 million USD, decreased by 20%, tuna decreased slightly by 3% and other fish decreased by 12% compared to July 2022. Generally in the first 7 months of the year, seafood exports earned nearly 5 billion USD, down 25% compared to the same period in 2022, of which pangasius fell the most with 36%, shrimp and tuna decreased by 27%. The largest seafood consumption markets of Vietnam include Japan, accounting for 28.5%, the US 15%, South Korea 11%, and the EU accounted for 9%. Notably, while tuna exports are recording a general downward trend, this market is being considered as a "bright spot" of Vietnam's tuna industry. Specifically, our country's tuna exports to the ...

Source: AgroInfo.vn