AsemconnectVietnam - In the first seven months of 2026, Vietnam’s fertilizer market saw positive, contrasting trends: exports surged to 1.89 million tonnes valued at US$1.02 billion, a 92.8% increase in value driven by growth in ASEAN and Northeast Asia, while imports dropped sharply by 36.8% in value (to US$814.47 million) due to improved domestic production capacity.

According to Customs statistics for the first seven months of 2026, Vietnam exported 1.89 million tonnes of fertilizer, generating US$1.02 billion in revenue, a 45.7% increase in volume and a 92.8% increase in value compared to the same period last year.
The export market structure remains heavily concentrated in Asia. ASEAN markets accounted for 779,140 tonnes valued at US$373.70 million, representing 36.54% of total volume and 36.59% of total export value. Cambodia was the largest market, taking 401,980 tonnes worth US$177.40 million, or 17.34% of total export value. Although export volume to Cambodia fell by 9.54% year-on-year, export value rose by 1.75%, indicating the market's continued importance for Vietnamese fertilizer consumption. Notably, the Philippines was emerging as one of the fastest-growing markets. Over the seven-month period, Vietnam exported 137,280 tonnes of fertilizer to the Philippines, valued at $73.92 million, an increase of 112.78% in volume and 166.59% in value compared to the same period of 2025. Myanmar also recorded significant growth, with export volume rising by 129.15% and value by 154.5%, albeit from a relatively small base. The exports to Malaysia reached 96.62 thousand tons valued at $52.65 million, marking increases of 7.41% in volume and 40.15% in value.
In Northeast Asia, South Korea stands out for its high growth rate and expanding market scale. During the first seven months of 2026, the country’s exports to South Korea totaled 158,970 tonnes valued at $112.54 million, up by 45.27% in volume and 150.26% in value, accounting for 11% of total export turnover. It is currently one of Vietnam's most important export markets, ranking second only to Cambodia. The exports to Japan reached 27,090 tonnes valued at $18.96 million; while volume dipped slightly by 2.63%, value rose by 40.52%. Meanwhile, exports to Taiwan fell by 41.09% in volume and 13.54% in value, highlighting a clear divergence among Northeast Asian markets.
Overall, Vietnam's fertilizer export market is undergoing a positive shift: while ASEAN remains the primary region, the export mix is increasingly being supplemented by high-growth markets. In particular, the Philippines and South Korea are emerging as markets with significant growth potential. However, exports remain heavily concentrated in Asia, with Cambodia accounting for a substantial share. Therefore, maintaining traditional markets while expanding into Northeast Asia and countries with rising demand for fertilizers will be a key strategy for enhancing stability and scaling up fertilizer exports in the near future.
Source: VITIC