Taiwan’s rubber import market has shown a clear upward trend in sourcing from Vietnam, while reducing imports from key suppliers such as Thailand, Japan, South Korea, and Malaysia, according to data from Taiwan’s Ministry of Finance and Vietnam’s Ministry of Industry and Trade.
Taiwan’s Rising Rubber Imports
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In the first five months of 2021, Taiwan imported 117,760 tons of rubber (HS codes 4001, 4002, 4003, 4005), worth USD 262 million — up 10% in volume and 27.8% in value year-on-year.
The top five suppliers of rubber to Taiwan were Thailand, Japan, the United States, Indonesia, and Vietnam.
Vietnam ranked fifth, exporting 11,950 tons valued at USD 23.59 million, marking an increase of 78% in volume and over 132% in value compared with the same period in 2020.
Vietnam’s market share rose from 6.3% to 10.2% of Taiwan’s total rubber imports.
This shift reflects Taiwan’s growing preference for Vietnamese rubber amid declining imports from traditional suppliers.
Natural Rubber Imports from Vietnam Up Nearly 150%
From January to May 2021, Taiwan imported 40,740 tons of natural rubber (HS 4001) worth USD 77.4 million, a slight 0.3% decrease in quantity but a 24% increase in value compared to 2020.
Major suppliers included Indonesia, Thailand, Vietnam, and Malaysia.
Among them, Vietnam ranked third, supplying 11,760 tons valued at USD 23.4 million — an increase of 91.3% in volume and 148% in value year-on-year.
Vietnam’s market share of natural rubber in Taiwan jumped to 28.9%, up from 15.1% in 2020, indicating a strong foothold in this segment.
Currently, Vietnam’s natural rubber exports to Taiwan enjoy a 0% tariff under WTO commitments, and face no major trade barriers, as these imports do not directly compete with domestic Taiwanese production.
Synthetic Rubber Imports and Market Dynamics
During the same period, Taiwan imported 71,310 tons of synthetic rubber (HS 4002) valued at USD 163.66 million, an increase of 10% in quantity and 21.4% in value compared to 2020.
The top suppliers of synthetic rubber to Taiwan were Japan, the United States, South Korea, Singapore, and China.
However, the market structure has shifted: Japan and South Korea’s shares declined, while the United States and China increased their presence.
Vietnam’s exports of synthetic rubber to Taiwan remain modest, accounting for only 0.04% of the island’s total imports.
Strong Growth Outlook
Vietnam’s rapidly growing natural rubber exports to Taiwan underscore the country’s competitive advantage in price and supply stability. With continued tariff-free access and expanding trade relations, Vietnam is positioned to further increase its market share in Taiwan’s rubber import market in the years ahead.