Vietnam’s paper imports and exports in 2022

Exports

Data from the General Department of Customs showed that in December 2022, Vietnam’s paper exports reached 164.51 million USD, up 8.1% over November and 11.9% compared to December 2021. The total export turnover of paper in 2022 was 1.9 billion USD, up 12.9% over 2021.

The FDI paper enterprises in Vietnam reached a turnover of 85 million USD in December 2022, up 10.1% over November. In 2022, the FDI enterprises exported 1.09 billion USD of paper of all kinds, up 14.1% over 2021.

In 2022, the US was Vietnam’s largest export market, accounting for 23.8% of total export turnover. Therefore, the export of paper and paper products to the US market increased by 14.3% compared to 2021 is the main reason for the increase in exports of the entire paper and paper product industry in 2022.

Notably, in 2022, the export of paper and paper products to many markets increased compared to 2021. Exports to Cambodia increased by 21.4%, Taiwan by 22.6%, Indonesia by 28.8%, Thailand by 84.6%, Australia by 12.3%, Singapore by 10.6%, Philippines by 38.4%, UAE by 34.9%, etc.

In 2022, the export of paper and products to all markets had a strong growth rate, and the number of markets increased by 65%. Exports to some markets, such as China, Malaysia, Hong Kong, Germany, etc., decreased.

Imports

According to the General Department of Customs statistics, in 2022, paper imports into Vietnam reached 2.16 million tons, with a turnover of 2.17 billion USD, down 3.6% in volume and up 3.6% in turnover compared to 2021.

Particularly in December 2022, the import of paper of all kinds to Vietnam reached 163.22 thousand tons, with a turnover of 158 million USD, down 3.3% in volume and 4% in turnover compared to November 2022, down 17.5% in volume and 15.7% in turnover compared to December 2021.

In 2022, Vietnam primarily imported paper from China, Japan, Indonesia, and South Korea, accounting for 69.5% of the total import turnover.

Specifically, imports of all kinds of paper from the Chinese market increased by 24.3% in volume and 23.8 in turnover compared to 2021.

Predictions for 2023

In 2022, Vietnam's paper industry had a trade deficit of 2.17 billion USD, an increase of 3.6% compared to the 2.1 billion USD deficit in 2021. The shortage of paper materials, the constantly increasing transportation costs, and many other costs made paper prices increase sharply in 2022. Prices are high, but there is a shortage of goods and a scarcity of raw paper sources in many countries worldwide.

Vietnam’s paper industry in 2023 is predicted to have many fluctuations. The paper industry will have many growth opportunities because of the rising global demand. In addition, domestic demand is also on the recovery.

It is forecasted that the import price of paper of all kinds will go down in 2023. The price of pulp paper will continue to decrease in the coming time. Paper manufacturers will reduce finished product prices to overcome ever-increasing cost pressures in 2022. These forecasts are based on:

• The signing of Free Trade Agreements, the development of e-commerce, and growing domestic demand.
• Increased online shopping is creating and expanding new directions for packaging needs, especially for protective packaging and sustainable shipping. E-commerce will fundamentally change the requirements: The paper industry, especially packaging paper, will be tailored to suit each product for efficiency in the supply chain and to open boxes at home instead of appearing on retail shelves.
• Over the next few years, ship-ready packaging will likely become a must for brands to manage cost pressures and be sustainable. On the other hand, the packaging industry is adopting smarter and more consumer-friendly solutions. The above trend creates many challenges but will also bring real development opportunities for paper businesses.

Source: The Ministry of Industry and Trade

Compiled by VietnamCredit