(vasep.com.vn) According to statistics from Vietnam Customs, tuna export turnover in the first 3 months of 2025 reached more than 228 million USD, an increase of 6% over the same period in 2024. Tuna exports to major markets tend to slow down.
By the end of March 2025, Vietnam's tuna products had been exported to more than 75 markets worldwide. Of which, the US, EU, Russia, Canada and Thailand are the 5 markets importing the most tuna from Vietnam.
In the first 3 months of 2025, the value of Vietnam's tuna exports to the US accounted for 39% of the total tuna export turnover. Tuna exports to this market in March tended to grow more slowly, increasing by only nearly 9% compared to the same period in 2024. The US NOAA organization initially issued a preliminary notice of not recognizing equivalence for the Vietnamese seafood industry, which means that if NOAA's requirements are not met on time, Vietnamese seafood will be banned from being imported into the US from January 1, 2026, which has somewhat affected Vietnam's tuna exports to this market. In addition, concerns about the possibility of the US increasing import taxes on Vietnam have also made US importers worried and limited their orders from Vietnam. Similar to the US market, Vietnam's tuna exports to the EU are also growing more slowly in March. Vietnam's tuna exports to markets in the bloc are also fluctuating. Currently, the Netherlands is leading Vietnam's tuna imports with an import value of more than 13 million USD, up 82% over the same period. Meanwhile, tuna exports to Italy fluctuated, with an export value of more than 9 million USD, down 2% over the same period. Exports to the German market were also not very positive when they reversed and decreased in March with a decrease of 9%.
The bright spots in Vietnam's tuna exports in the first 3 months of the year were the Canadian, Japanese and Russian markets. Exports to these markets, after a sharp decline in the first month of 2025, have grown continuously in the following 2 months, especially the Russian market. Tuna exports to Russia in March alone increased by 92% over the same period. The continuous high growth in the past 2 months has made Russia the 3rd largest single tuna export market of Vietnam after the US and the Netherlands.
Currently, the US is temporarily suspending the imposition of reciprocal taxes for 90 days, which has created an immediate positive effect on the tuna export market, with orders starting to increase again. However, although the tax suspension for Vietnam has created many opportunities for the entire industry, tuna businesses in particular and seafood businesses in general still need to be alert to the risks that still exist. This tax has only been postponed, not completely removed. This means that there is no guarantee that in the future, the US will remove or at least reduce taxes on Vietnam. The US's change in trade policy can create major shocks to the market. Therefore, businesses should focus on speeding up shipments that are still in transit and transported to the final importing country, at least in the next 90 days to minimize the risk of being imposed with high taxes. At the same time, actively expand exports to other markets such as the Middle East, Asia..., to avoid over-dependence on the US.
