Vietnam is the 8th largest rubber supplier to Japan.

The Import-Export Department (Ministry of Industry and Trade) cited statistics from the General Department of Vietnam Customs, saying that in the first 8 months of 2023, Vietnam's rubber exports to Japan reached 5.74 thousand tons, worth 8.98 million USD, down 10.4% in volume and 27.6% in value compared to the same period in 2022. The average export price of rubber to this market reached 1,565 USD/ton, down 19.2% compared to the same period in 2022.

Vietnam is the 8th largest rubber supplier to Japan.

In the first 8 months of 2023, Vietnam mainly exported natural rubber to the Japanese market. Of which, the SVR CV60 variety was exported the most, accounting for 39.89% of the total rubber exported to Japan in the first 8 months of 2023; The second was the SVR 3L variety accounting for 36.68% and the third was the SVR 10 accounting for 13.22%...

Although rubber exports to Japan decreased, in the first 8 months of 2023, some types of rubber exported to this market still grew quite well in volume compared to the same period in 2022 such as: SVR 3L, RSS3, SVR 20...

In general, the average export price of all rubber types to Japan in the first 8 months of 2023 mostly decreased sharply compared to the same period in 2022, in which the sharpest decrease was synthetic rubber down 51.8%; Latex down 29.5%; SVR 20 down 21.3%; SVR 3L down 21.2%; SVR 10 down 21%...

According to the Import-Export Department, since the beginning of 2023, Vietnam's rubber exports to the Japanese market have encountered many difficulties, with the volume and value of exports to this market continuously decreasing compared to the same period in 2022.

Structure of rubber types exported from Vietnam to Japan (% by volume)

Source: Preliminary statistics from data of General Department of Customs

According to statistics from the Japan Customs Agency, in the first 7 months of 2023, Japan imported 431.92 thousand tons of rubber (HS: 4001, 4002, 4003, 4005), worth 106.79 billion Yen (equivalent to 722.68 million USD), down 26.4% in volume and down 31% in value compared to the same period in 2022.

Of these, Indonesia, Thailand, South Korea, Singapore and the United States are the five largest markets supplying rubber to Japan. Japan's rubber imports from these markets decreased in both volume and value compared to the same period in 2022.

In the first 7 months of 2023, Vietnam was the 8th largest rubber supplier to Japan with 5.44 thousand tons, worth 1.18 billion Yen (equivalent to 8.03 million USD), down 6.4% in volume and 18.7% in value compared to the same period in 2022.

Vietnam's rubber market share accounts for 1.26% of Japan's total rubber imports, higher than the 0.99% level in the first 7 months of 2022.

Rubber supply market for Japan in the first 7 months of 2023 (Exchange rate: 1 USD = 147.73 Yen) Source: Japan Customs Agency

In the first 7 months of 2023, natural rubber imports accounted for 80.52% of Japan's total rubber imports, the rest were synthetic rubber, recycled rubber and mixed rubber. Of which, the import volume and value of natural rubber, synthetic rubber and recycled rubber all decreased compared to the same period in 2022. Also during this period, Vietnam was the 3rd largest natural rubber supplier to Japan, with 5.42 thousand tons, worth 1.18 billion yen (equivalent to 8 million USD), down 6.5% in volume and down 18.7% in value compared to the same period in 2022. Vietnam's natural rubber market share in Japan's total imports accounted for 1.56%, higher than the 1.23% level in the first 7 months of 2022.

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