In March 2024, Vietnam's tuna exports surged to approximately $84 million, marking a notable 17% increase. However, despite this monthly boost, the total revenue from tuna exports in the first quarter of 2024 amounted to $215 million, showcasing a promising 19% rise from the same period in 2023. Nonetheless, there was a stark 17% decline compared to the corresponding period in 2022. Given these fluctuations and the ongoing challenges faced by the industry, it remains uncertain whether Vietnam's tuna exports will reach the billion-dollar mark achieved in 2022.

On another front, Vietnam's pangasius exports to the United Arab Emirates (UAE) witnessed a remarkable surge, surpassing $7 million in the first quarter of 2024, marking a substantial 67% increase compared to the same period last year. The UAE primarily imports frozen fillets from Vietnam, indicating a growing demand for Vietnamese seafood products in the region.

The UAE stands as a significant market for seafood, with annual consumption reaching approximately 220,000 tons and a per capita consumption volume of 28.6 kilos, surpassing the global average. With the UAE's increasing income levels and rapid urbanization, there is considerable potential for further expansion of pangasius exports to the region.

Currently, Vietnam exports an estimated 22,000 to 24,000 tons of seafood products to the UAE annually, valued at around $50 to $70 million. Among these exports, frozen pangasius fillets reign supreme as the most sought-after product from Vietnam.

Looking ahead, Vietnam's pangasius export industry continues to show promising growth trends. With the sector estimated at $1.8 billion in 2023 and anticipated to reach $2 billion in 2024, the future looks bright for Vietnamese seafood exports, with the UAE market playing a pivotal role in driving this expansion.