Vietnam’s rubber exports value reached $3.43 billion

Dublin, Ireland – The “Research Report on Vietnam’s Natural Rubber Industry, 2022-2031” report has been added to ResearchAndMarkets.com’s offering.

Exports value of rubber processed products in 2020 amounted to about USD3.11 billion, or 39.6% of the total value. The export value of rubber wood was USD2.36 billion, accounting for 30.1%. China has become the largest market for Vietnam’s rubber exports, accounting for more than half of the country’s rubber exports. In 2021, Vietnam’s rubber exports value had reached USD3.43 billion.

According to this analysis, Vietnam’s rubber enterprises are expanding their sales markets and improving the production of Vietnam’s rubber industry. Due to the wide range of downstream uses of natural rubber and huge global demand, there are many investment opportunities in both cultivation and trade of natural rubber. The analyst expects Vietnam’s natural rubber exports to continue to grow in 2022-2031.

In terms of growing environment, Vietnam has natural advantages in rubber tree planting due to its unique geographical conditions. In 2021, the national rubber tree planting area of Vietnam is about 1 million hectares, and its planting areas are mainly concentrated in the southeast and central highlands, of which the largest planting area in the southeast is about 572,000 hectares, accounting for 58.3% of the national planting area.

In Vietnam, small rubber farms have become one of the most important parts of the rubber industry, according to the analyst’s analysis. Especially in the production of natural rubber, the supply of small rubber farms accounts for more than 60% of the total production.

Vietnam’s natural rubber export volume is huge and ranks the third in the world. In the total export volume of Vietnam’s agricultural products, natural rubber export volume is second only to food, and natural rubber is one of the important agricultural products exported by Vietnam. The main export markets of Vietnam’s natural rubber are China, India and South Korea, among which, China occupies the largest proportion. In 2021, Vietnam exported about 1.52 million tons of rubber to China, accounting for about 71% of the total export volume.

In addition, the natural rubber industry in Vietnam features that the production of natural rubber in Vietnam is lower than the export volume. In 2021, its production of natural rubber was only 1.23 million tons, which was 0.9 million tons less compared with the export volume.

This is because Vietnam’s enterprises actively plant rubber trees not only within their own territory, but also in neighboring countries such as Cambodia and Laos respectively, which are harvested and transported to Vietnam for preliminary processing before export. The production of natural rubber outside Vietnam is not included in the annual production of Vietnam itself, thus causing this unique phenomenon.