The natural rubber production in Vietnam has demonstrated a steady upward trend before experiencing a notable dip in 2020. Through to 2023, the production has picked up again, reaching 1,328.9 thousand metric tons in 2023. Until 2020, the production increased consistently, but 2020 saw a significant decline of 14.61%. Recovery began in 2021, with a year-on-year increase of 24.16%, followed by mild growth in 2022 and 2023 with 2.91% and 2.77% respectively. The average variation per year over the last five years (2019–2023) was 3.15%.
Looking forward to the forecasts from 2024 onwards, production is expected to continue its upward trajectory, culminating at 1,515.7 thousand metric tons in 2028. The forecast 5-year Compound Annual Growth Rate (CAGR) is projected at 2.07%, indicating a moderate annual average growth rate over the next five years, with an overall growth rate of 10.79% by 2028.
Future trends to watch for include potential fluctuations due to global market demand, climatic impacts, and technological advancements in the production processes. Additionally, policy changes and international trade agreements may significantly influence the overall production volume.
