(seafood.vasep.com.vn) Over the past 5 years, Canada has always been one of the 10 main tuna export markets of Vietnam. Vietnam's tuna exports to this market increased continuously at double-digit rates from 2017 until now, in the first 4 months of this year alone, the value of Vietnam's tuna exports to this market increased by nearly 58%. 12 million USD compared to the same period last year.
After the CPTPP took effect, Canada increasingly ranked in the list of the main tuna export markets of Vietnam. By the end of April 2021, Canada is the fourth largest single tuna export market, accounting for 5% of Vietnam's total tuna exports.
With tariff incentives under the CPTPP and the impact of the Covid-19 pandemic, Vietnam's exports of processed and canned tuna to Canada tend to increase sharply. In the first 4 months of 2021 alone, it is growing strongly by 150% over the same period. In addition, exports of frozen tuna meat/fillets with HS code 0304 are also increasing by 24%.
Canada is currently one of the 20 largest tuna import markets in the world. In which, processed and canned tuna is still the most imported product to this market, accounting for more than 85% of the total export value. In the first quarter of this year, Canada's imports of processed and canned tuna continued to grow at 25% year-on-year.
Vietnam is the third largest source of processed and canned tuna to the Canadian market in the first quarter of this year, but its market share is still very modest compared to neighboring Thailand. It is noteworthy that while Vietnam's exports to this market increased, Thailand's exports decreased during this period.