Vietnam is the eighth largest supplier of rubber to Japan.

According to statistics from the General Department of Vietnam Customs, cited by the Import-Export Department ( Ministry of Industry and Trade ), in the first eight months of 2023, Vietnam's rubber exports to Japan reached 5.74 thousand tons, valued at US$8.98 million, a decrease of 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 US$1,565 per ton, a decrease of 19.2% compared to the same period in 2022.

Vietnam is the eighth largest supplier of rubber to Japan.

In the first eight months of 2023, Vietnam's exports to the Japanese market mainly consisted of natural rubber. Of this, SVR CV60 was the most exported type, accounting for 39.89% of total rubber exports to Japan in the first eight months of 2023; followed by SVR 3L at 36.68% and SVR 10 at 13.22%...

Although rubber exports to Japan decreased, in the first eight months of 2023, some types of rubber exported to this market still showed significant growth in volume compared to the same period in 2022, such as SVR 3L, RSS3, SVR 20…

Overall, the average export prices of various types of rubber to Japan in the first eight months of 2023 mostly decreased sharply compared to the same period in 2022, with the sharpest declines seen in synthetic rubber (down 51.8%), latex (down 29.5%), SVR 20 (down 21.3%), SVR 3L (down 21.2%), and SVR 10 (down 21%).

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

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

Source: Preliminary statistics from the General Department of Customs.

According to statistics from the Japanese Customs Agency, in the first seven 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), a decrease of 26.4% in volume and 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 suppliers of 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 seven months of 2023, Vietnam was the eighth largest supplier of rubber to Japan, with 5.44 thousand tons, worth 1.18 billion Yen (equivalent to 8.03 million USD), a decrease of 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% recorded in the first seven months of 2022.

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

In the first seven months of 2023, natural rubber imports accounted for 80.52% of Japan's total rubber imports, with the remainder being synthetic rubber, recycled rubber, and mixed rubber. Of these, the volume and value of imports of natural rubber, synthetic rubber, and recycled rubber all decreased compared to the same period in 2022. During this same period, Vietnam was the third largest supplier of natural rubber to Japan, with 5.42 thousand tons, valued at 1.18 billion Yen (equivalent to 8 million USD), a decrease of 6.5% in volume and 18.7% in value compared to the same period in 2022. Vietnam's share of natural rubber in Japan's total imports was 1.56%, higher than the 1.23% recorded in the first seven months of 2022.

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