AsemconnectVietnam - Vietnam’s chemical export turnover for September 2026 was projected to reach approximately USD 765 million, assuming consumption rates remain stable as seen in recent months.

Consequently, the total export value of chemicals and chemical products for the first nine months of 2026 was estimated to comfortably surpass the USD 5.6–5.7 billion mark, representing impressive growth of over 30% compared to the same period in 2025. This result reaffirms the status of chemicals as a key export category, making a vital contribution to value addition and the overall growth momentum of the industrial sector.
Earlier, in August of 2026, the country’s exports of chemicals and chemical products totaled USD 754.22 million; while this represented a slight month-on-month decline of 0.24%, it marked a robust year-on-year increase of 51.84% compared to August of 2025. For the first eight months of 2026, export turnover exceeded USD 4.96 billion, up by 33.55% year-on-year. The high cumulative growth rate, significantly outpacing the growth seen in August alone, indicates that chemical exports have maintained strong momentum throughout most of the year. Overall, this category has demonstrated positive export growth, helping to boost the export value of Vietnam's chemical industry.
ASEAN, China, Japan, South Korea, and India remained the primary markets for Vietnam's chemicals and chemical products, although the market structure is undergoing a significant shift. During the first eight months of 2026, the export turnover reached US$4.98 billion, a 34.56% increase compared to the same period of 2025. Growth was most pronounced in markets such as Japan, South Korea, the United States, and certain CPTPP nations, whereas the shares held by ASEAN and India trended downward.
The exports to ASEAN totaled US$1.02 billion in the first eight months of 2026, a 15.84% year-on-year decline, causing the region's share of total exports to drop sharply from 32.72% to 20.46%. Nevertheless, ASEAN remained a major market. Within the region, the exports to Thailand reached US$239.53 million (up by 45.91%); Malaysia, US$228.41 million (up by 42.93%); Cambodia, US$181.64 million (up by 55.33%); and the Philippines, US$95.47 million (up by 72.97%). Conversely, the exports to Indonesia fell by 31.62%, and those to Laos plummeted by 98.10%. The declines in key markets, particularly Indonesia, dragged down the overall export figure for the ASEAN region.
China remained a vital export market, with turnover for the eight-month period reaching US$830.80 million (up by 17.65%), accounting for 16.67% of total exports of chemicals and chemical products. However, in August alone, the exports to China stood at US$95.18 million, marking a 29.84% decrease from July and a 4.69% drop compared to the same month the previous year. Despite month-to-month fluctuations, the overall results for the first eight months indicate that the Chinese market has maintained relatively stable demand and remains a key export destination for Vietnam's chemical industry.
The trend for India was less favorable; the export value for the eight-month period reached $372.40 million, a decline of 5.39%, causing its share of total exports to drop from 10.63% to 7.47%. However, the exports to India in August alone reached $62.88 million, up by 20.34% from July and 28.92% year-on-year, signaling a recent improvement in the market. In contrast, the United States continued to show strong growth, with exports reaching $265.93 million over the eight months, an increase of 88.32%, raising its market share from 3.81% to 5.34%. This market offers significant room for Vietnamese enterprises to expand exports in the near future.
The exports to the EU also saw robust growth, reaching $81.35 million over the eight-month period, a rise of 66.36%, with its market share increasing from 1.32% to 1.63%. Within the EU, the exports to Italy reached $33.53 million (up by 117.69%), Germany reached $17.57 million (up by 47.32%), and the Netherlands reached $30.26 million (up by 40.92%). Although the current volume remains modest, the high growth rate suggests that the EU is becoming a market with significant expansion potential, particularly as Vietnamese enterprises increasingly meet quality, safety, and environmental standards. Vietnam's exports of chemicals and chemical products during the first eight months of 2026 are shifting towards diversification and a gradual reduction in reliance on ASEAN. Japan, South Korea, and the United States are key contributors to this growth, while China maintains its significant position. Moving forward, businesses need to consolidate their presence in high-growth markets while further tapping into the EU, CPTPP, and new markets; additionally, they must closely monitor developments in ASEAN and India to proactively adjust their market strategies and export plans.
Source: VITIC