Vietnam’s Paper and Pulp Import and Export in 2024 and Forecast for 2025

Introduction

Vietnam’s paper and pulp industry has seen steady growth in 2024, despite global economic uncertainties and shifts in trade policies. With exports totaling $2.09 billion (+0.4% YoY) and imports rising to $2.24 billion (+13.1% YoY), Vietnam has solidified its position as a regional trade hub in the paper sector.

The increasing demand for packaging paper, driven by e-commerce, logistics, and manufacturing, has acted as a significant catalyst for growth. Meanwhile, China’s stricter environmental regulations have reduced its paper output, opening new opportunities for Vietnamese exporters.

This article provides an in-depth examination of Vietnam’s 2024 paper import-export performance, focusing on:

• Key market trends
• Top export destinations
• Leading paper importers
• Challenges and the 2025 outlook

Vietnam’s Paper & Pulp Exports in 2024

Vietnam’s paper exports remained stable in 2024, increasing 0.4% year over year (YoY) to $2.09 billion.

December 2024 and January 2025 Export Data

• December 2024: $175.2 million (+6.4% YoY)
• January 2025 Estimate: $170 million (-3.0 % from Dec 2024, -1.6% from Jan 2024)

Major Export Markets & Performance in 2024

Vietnam’s top export destinations revealed diverging trends.

Analysis of Major Export Trends

1. Surging U.S. Demand (+22.99%)
   • The U.S. was Vietnam’s largest export market, accounting for 30.3% of total exports.
   • December exports to the U.S. increased 36.96% YoY, showing strong industrial and consumer demand.
2. Declining Chinese Demand (-28.79%)
   • Despite China’s new import demand for packaging paper, its purchases from Vietnam fell sharply.
   • This decline is linked to China's economic slowdown and increased domestic paper production capacity.
3. Growth in ASEAN and Australia
   • Cambodia (+9.77%), Thailand (+6.27%), and Indonesia (+7.03%) experienced higher demand for Vietnamese paper.
   • Australia (+12.38%) and Japan (+4.58%) also boosted Vietnam’s export performance.

Vietnam’s Paper & Pulp Imports in 2024

Vietnam imported 2.54 million tons of paper worth $2.24 billion, representing a 16% increase in volume and a 13.1% rise in value.

December 2024 and January 2025 Import Data

• December 2024: 240,200 tons ($209 million, +24.4% YoY)
• January 2025 Estimate: 240,000 tons ($215 million, +15.7% YoY)

Top 20 Paper Importing Companies in Vietnam (2024)

These 20 companies dominated Vietnam’s paper imports, with CP Paper Corporation leading at $94.5 million.

* The Data is from Vietnam Custome, tentatively and for reference only.

Forecast for 2025

Opportunities for Growth

• Vietnam’s packaging paper consumption is expected to reach 10 million tons by 2025.
• E-commerce and manufacturing expansion will boost demand for industrial paper.
• China’s import needs will create new trade opportunities for Vietnamese suppliers.

Challenges to Overcome

• Regional competition from Indonesia, Malaysia, and Thailand.
• Rising production costs and environmental compliance regulations.
• Currency fluctuations impacting import and export pricing.

Projected Market Trends for 2025

Conclusion

Vietnam’s paper industry saw robust trade activity in 2024, with exports stabilizing (+0.4%) and imports growing (+16%).

Key growth drivers included rising U.S. demand, China’s production limits, and booming e-commerce. Meanwhile, Vietnam’s paper import market was led by Công Ty Cổ Phần Giấy CP ($94.5M) and Tetra Pak Bình Dương ($72.7M).

Looking ahead, 2025 presents strong opportunities for Vietnamese firms to expand exports, meet packaging paper demand, and benefit from China’s import needs. However, companies must navigate currency risks, competition, and sustainability pressures to remain competitive.