CP Paper Corporation was the largest paper importer in Vietnam in the first quarter of 2022.
Data from the General Department of Customs showed that Vietnam’s export of paper and paper-based products in April 2022 reached 199.73 million USD, up 12.5% compared to March 2022 and up 40.9% over April 2021.
In the first 4 months of 2022, exports of Vietnam’s paper and paper-based products reached 632.81 million USD, an increase of 24.9% over the same period in 2021.
In April 2022, Vietnam’s 2 biggest paper exporting markets were the US and China. Export turnover to these markets was 57.16 million USD and 24.98 million USD, respectively. Paper and paper-based products exported to these markets increased compared to April 2021 by 48.1% and 43.3%, respectively.
In the first 4 months of 2022, the US was Vietnam’s top paper and paper-based products exporting market. Export turnover of paper to the US was 135.81 million USD, up 41.0% over the same period in 2021. On the other hand, exports to China were down 9.7% in the first 4 months compared to the same period in 2021. Turnover to this market reached 82.75%.
According to the General Department of Customs data, Vietnam’s paper imports in April 2022 were 197.63 thousand tons, equivalent to a turnover of 195.85 million USD, down 3.5% in volume and 1.6% in turnover over March 2022. Compared to April 2021, paper imports were down 1.8% in volume and up 3.9% in turnover.
In the first 4 months of 2022, Vietnam’s paper imports reached 755.08 thousand tons, with a turnover of 738.08 million USD, down 6.8% in volume and up 5.3% in turnover compared to the same period in 2021.
In April, Vietnam mostly imported paper from China, with a total import of 75.35 thousand tons, equivalent to a turnover of 64.04 million USD, up 12.5% in volume and 15.4% in turnover over April 2021.
On the other hand, imports of paper from some markets dropped in April 2022 when compared to April 2021. For example, imports from Thailand were down 13.2% in volume and 16.1% in turnover; from India down 41.6% in volume and 17.8% in turnover; from Russia down 49.1% in volume and 32.3% in turnover; etc.
In the first 4 months of 2022, China is both the largest import market of Vietnam's paper of all kinds and a market with strong growth, with an import volume of 201.53 thousand tons, turnover of 221.94 million USD, up 14.8% in volume and 21.3% in turnover over the same period in 2021.
Energy prices and inflation rates are the main factors affecting the global pulp and paper industry and economy. In addition to the conflict in Ukraine, the demand and supply of paper products, and logistics issues, will cause significant difficulties for the paper market.
Vietnam's paper industry is forecast to have great growth potential. The demand for packaging ancillary products, serving online sales and direct distribution, and growing export activities, especially for industries with a high proportion of exports such as textiles and garments, leather and footwear, seafood, components, electronic equipment, etc., have helped the paper packaging, paper box, and carton segment to grow strongly. Metal packaging is also witnessing positive results as consumers switch to long-term food storage.
Signed FTAs such as the EVFTA, CPTPP, and RCEP will open up export chances for industries that use paper packaging, for example, the agriculture-forestry-fishery, the processing industry, etc. The global demand for high-quality packaging, such as coated paper, is large and will bring great export opportunities for Vietnam's paper industry.
Vietnam's paper packaging market reached a value of 1.97 billion USD in 2020 and is expected to reach 2.89 billion USD by 2026, achieving a CAGR of 6.96% during the forecast period (2021-2026). Vietnam’s market is growing steadily when the demand for paper packaging dominates the country's paper consumption.
Furthermore, the growing demand for packaged goods has been creating the basis for Vietnam's recovery in packaged goods. For example, Vietnam’s flexible packaging industry has received a high level of direct investment from foreign food brand owners over the past few years.
The growth potential of the paper packaging industry in Vietnam in the coming time is still great. Many companies in the paper packaging industry have seized the growth opportunity by opening more factories and improving product quality. That is also a strong growth factor in Vietnam's import and export of paper in the coming time.
Source: The Ministry of Industry and Trade
Compiled by VietnamCredit