Tuna exports to the UK are still difficult to recover

Published 2022년 11월 1일

Tridge summary

Vietnam's tuna exports to the UK have seen a decline due to the impact of Brexit, the Covid-19 pandemic, and the Russia-Ukraine conflict, with the exports' value in 2021 being down 23% from 2020. The UK's inflation rate has reached a 40-year high due to rising food prices, leading to a decrease in British tuna imports. As of July 2022, UK tuna imports have decreased by 5% in value compared to the same period in 2021. However, the Free Trade Agreement (FTA) between the UK and Vietnam could provide tariff advantages to Vietnamese tuna products in the UK market, potentially helping Vietnamese exports to recover.

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

Original content

According to the Vietnam Association of Seafood Exporters and Producers, from 2021 until now, due to the impact of Brexit and the impact of the Covid-19 pandemic, Vietnam's tuna exports to the UK are unstable and tend to decline. The value of Vietnam's tuna exports to the UK in 2021 only reached nearly 9.3 million USD, down 23% compared to the same period in 2020. Entering 2022, the dual impact of the Covid-19 pandemic, plus the impact of the Russia-Ukraine conflict, has impacted the British economy. Inflation in the UK has risen to a 40-year high and is almost the highest in Europe. The UK's consumer price index rose 10.1 per cent from 9.9 per cent in August 2022 due to soaring food prices, the Office for National Statistics said. Figures for September 2022 are equivalent to levels recorded in July 2022 and are the highest level in 40 years. In the UK, tuna is a food used mainly in fast foods, like sandwiches, or in many meals while traveling. Currently, labor shortages in the UK ...

Source: Haiquanonline