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Chemicals and resources in Vietnam - Statistics & Facts

In 2018, the chemicals sector was listed among the most profitable sectors in Vietnam. In that year, the mining and quarrying sector contributed 7.37 percent to the country’s GDP. There is a high demand for basic materials including chemicals such as plastics, rubber, fibers, pesticides, pulp and paper, metals as well as coal and minerals for the country's industry sector. The industry and construction sector in Vietnam accounts for more than one third of the country’s GDP. To meet the demand for basic materials, the country is dependent on both national production and imports.

The chemicals sector had the highest profit growth with 103.7 percent while profits from the natural resources sector declined by 27 percent. Since the agriculture sector is essential to Vietnam’s economy, agricultural chemicals are much needed. Therefore, many of the leading chemical companies in Vietnam are agrochemical suppliers. On the other hand, coal production in Vietnam and crude oil production in Vietnam still has potential to grow to meet the consumption needs in the country as the energy demand for coal-fired and gas power was forecasted to increase by 2030.

The production volume of chemical products has stagnated in the previous years due to delays in infrastructure development and hence slow expansion in the chemical sector. Hence, mineral products, chemical products and base metals were among the leading import goods in Vietnam. In 2018, chemical imports from the European Union amounted to about 2.8 billion euros, which was significantly higher than the export of the respective products from Vietnam to the European Union. In 2017, Vietnam imported chemical products worth 164 million U.S. dollars from Germany.

In 2018, M&A deals in the chemicals sector amounted to a value of about 169 million U.S. dollars and 189 million U.S. dollars in the basic resources sector. According to Vietnam’s Industrial Development Strategy towards 2035, the chemical industry will prioritize base chemicals, petrochemicals and the manufacturing of plastics and rubber until 2025 with a shift in focus towards the development of pharmaceutical chemicals after 2025.

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Chemicals and resources in Vietnam

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