Middle East conflicts could disrupt Vietnam's tuna exports to Israel

Tuna exports to Israel have seen consistent growth since the beginning of this year. However, in the past three months, exports to this market have shown signs of instability, with a 31% decline in July.

Statistics from Vietnam Customs indicate that tuna exports to Israel in 2023 increased by 37% compared to the previous year, exceeding $50 million.

On July 25, 2023, the Vietnam-Israel Free Trade Agreement (VIFTA) was signed, creating favorable conditions for Vietnam to promote seafood exports, including tuna, to this market.

According to the Vietnam Association of Seafood Exporters and Processors (VASEP), tuna exports to this market have shown continuous growth since the beginning of 2024. However, in the past three months, exports to this market have shown signs of instability, with a 31% decline in July. August exports to this market saw a rebound but the growth was moderate, increasing only 20% compared to the same period last year.

VASEP predicts that exports to this market will fluctuate in the future.

Also according to the association, the Middle East is the central region of three continents: Asia, Europe, and Africa. Therefore, if conflicts occur,  maritime transport would be disrupted, including that in the Gulf of Aden, the shortest route between Europe and Asia. International trade through this strategic route accounts for 12-13% of global trade, and Vietnamese seafood exports also pass through this area, through the Red Sea.