According to the General Department of Vietnam Customs, Vietnam exported a total of 2 million tons of rubber in 2024, down 6.2% from 2023. However, due to high global rubber prices, the export value surged by 18.2%, reaching a record USD 3.4 billion.
Despite weakened demand in key markets such as China, Vietnam’s rubber exports still achieved impressive growth in both revenue and market diversification.
Export Performance and Market Structure
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China remained Vietnam’s largest rubber market, importing 1.45 million tons worth USD 2.44 billion — a 15.1% decrease in volume but a 7.6% increase in value year-on-year. China accounted for 72.1% of Vietnam’s total rubber exports.
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India, the second-largest market, increased its imports by 8.7% in volume and 35.2% in value.
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Exports also expanded to Germany, the United States, Taiwan, Russia, and Indonesia, reflecting Vietnam’s growing market reach.
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Particularly notable was Malaysia, where imports of Vietnamese rubber rose 5.3 times compared to 2023, totaling 38.44 thousand tons.
Positive Signals from the European Market
In 2024, Vietnam’s rubber exports to the European Union (EU) rose 29%, as European buyers increased imports ahead of the EU Deforestation Regulation (EUDR) expected to take effect by the end of 2024. The implementation of this regulation, however, has been postponed for one year, allowing exporters more time to prepare.
This delay provides Vietnamese rubber producers and exporters with a crucial window to enhance traceability systems, sustainability standards, and supply chain transparency — key factors to maintaining competitiveness in the EU market.
Outlook for 2025: Opportunities and Challenges
The year 2025 is expected to be a turning point for Vietnam’s rubber industry. As the global economy moves toward green growth and sustainability, Vietnamese rubber producers will face both challenges and opportunities from:
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Stricter sustainability and environmental standards,
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Increased global demand for eco-friendly materials,
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Deepened integration into global value chains.
With growing interest in sustainable natural rubber and renewable industrial applications, Vietnam’s rubber sector is well-positioned to strengthen its global footprint — provided that enterprises continue to upgrade technology, enhance supply chain traceability, and diversify export markets beyond China.