Vietnam’s tuna exports to Japan see consistent strong growth
According to data from Vietnam's Customs, tuna exports to Japan surged by 31% in October 2024 compared to the same period last year, reaching nearly USD 3.5 million.
This increase helps to offset the decline in exports to Japan during the first half of the year, bringing the total export value for the first 10 months of 2024 to almost USD 28 million, reflecting a 5% year-on-year growth.
Among the tuna product items exported to Japan, processed tuna products with HS code 16, such as smoked tuna, tuna chunks, and others (excluding canned tuna), are the primary exports to this market. This item is also the only one to show growth in the first 10 months of this year compared to the same period last year.
Currently, over 20 Vietnamese companies are exporting tuna to Japan. Among them, Mariso Vietnam, AH Fishco, and Evertrust Food Co., Ltd. are the top three exporters, accounting for 66% of the total tuna export value to this market.
According to data from the International Trade Centre (ITC), Japan’s tuna imports continued to decline in the first eight months of 2024. The country reduced imports from most major suppliers, with Vietnam showing the lowest decline.
According to Japan’s Ministry of Internal Affairs and Communications (MIC), household spending in Japan increased for the first time in May 2024, ending 14 months of belt-tightening. Additionally, Japan’s economy has returned to positive growth after two consecutive quarters of contraction. The Japanese government is also considering a budget of JPY 21.9 trillion (approximately USD 141 billion) as part of a newly approved economic stimulus package aimed at alleviating the impact of inflation. This is expected to increase demand for seafood, including tuna, and boost imports.
VFM
