According to the Vietnam Rubber Industry Journal (CSVN), by the end of 2022, Vietnam’s rubber exports reached over 2.1 million tons, generating more than USD 3.3 billion — the highest export volume and value since 2017.
The average export price of Vietnamese rubber in 2022 was USD 1,546 per ton, down 7.8% from 2021. Despite multiple challenges throughout the year, rubber exports still showed positive growth compared to 2021.
Record-Breaking Export Volume and Value
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Statistics from the General Department of Vietnam Customs reveal that in 2022, Vietnam exported 2.14 million tons of rubber, worth USD 3.3 billion — an increase of 9.7% in volume and over 1% in value compared to 2021.
This marks the strongest export performance in the past five years in both quantity and value.
China remained Vietnam’s largest export market, accounting for 74.62% of the total volume, equivalent to 1.6 million tons valued at USD 2.38 billion — up 14.6% in volume and 4.3% in value year-on-year.
The average export price to China stood at USD 1,490 per ton, a 9% decline from 2021.
Exports to other key markets such as Russia, Brazil, and Malaysia also recorded positive growth, while shipments to India, South Korea, the U.S., Taiwan, and Germany saw slight declines.
Opportunities from China’s Reopening
The lifting of COVID-19 restrictions and border reopening in China is expected to provide a significant boost for Vietnam’s rubber exports in the coming months.
Rising demand from both China and the United States is likely to support market recovery in 2023.
Domestic Rubber Price Movements
As of January 2023, domestic rubber latex prices have shown mixed trends across provinces:
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Binh Phuoc: Prices collected by Phu Rieng Rubber Company averaged 270–280 VND/TSC, down 5 VND/TSC from December 2022.
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Binh Duong: Phuoc Hoa Rubber Company maintained prices at 281–283 VND/TSC, up 8–10 VND/TSC month-on-month.
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Gia Lai: Mang Yang Rubber Company purchased latex at 230–240 VND/TSC, stable compared with the end of 2022.
VRG’s 2022 Performance and 2023 Outlook
The Vietnam Rubber Group (VRG) reported total production of 429,852 tons in 2022, up 7% from 2021.
The Group’s total consumption volume reached 501,322 tons, with 80,150 tons purchased externally.
For 2023, VRG has set a target of producing around 425,000 tons and consuming 500,000 tons, continuing its focus on efficiency, sustainability, and market diversification.