Revival of Tuna Exports from Thailand and Vietnam to the Middle East

In recent years, the export performance of tuna from Thailand and Vietnam to the Middle East has faced challenges. However, there are positive signs indicating a revival in their export markets. 

1. Challenging Years:

The year 2023 was marked by unsuccessful outcomes for tuna exporters from both Vietnam and Thailand in the Middle East market. Compared to 2022, Thailand experienced a decline of 21% in its tuna export value and a 27% decrease in export volume. Despite being the second-largest export market for Thailand after the United States, the Middle East region accounted for only 22% of the total export value in 2023.

2. The Road to Recovery:

As we enter 2024, there are positive indications of a recovery in tuna exports from Vietnam and Thailand to the Middle East. While Vietnam's export growth to this market has been somewhat unstable, Thailand's exports have shown a consistent increase.

3. Impressive Growth Figures:

According to statistics from Thai customs, the total value of Thailand's tuna exports in the first two months of 2024 reached nearly $124 million, representing a substantial growth of 26% compared to the same period in 2023.

4. Key Market and Buyer:

Among the Middle Eastern countries, Saudi Arabia stands out as the largest importer of Thai tuna, making it Thailand's fifth-largest single export market, accounting for 6.4% of the total tuna export value in 2023. Saudi Arabia has been one of the few Middle Eastern countries that have increased their purchases of Thai tuna in the past year.

5. Diversifying Suppliers:

While Thailand remains the leading supplier of tuna to Saudi Arabia, Vietnam has emerged as a close follower. In recent years, Middle Eastern importers have shown a preference for diversifying their sources of tuna, including Vietnam, China, and Seychelles, to reduce their dependence on Thailand. However, Vietnam's market share in the Middle East remains significantly lower than that of Thailand.

The revival of tuna exports from Thailand and Vietnam to the Middle East presents an optimistic outlook for the industry. Thailand's consistent growth and the increasing interest of Middle Eastern countries such as Saudi Arabia in sourcing tuna from alternative markets contribute to this positive trend. As both countries focus on expanding their presence in the Middle East, the future of tuna exports looks promising.