Vietnam Chemical Standard Research Report 2015-2025

In Q1/2020, despite being a basic industry, chemical enterprises were also heavily affected by the Covid-19 epidemic on consumption of output products such as fertilizer products, plant protection products, paints. and printing ink, and the group of man-made fibers expressed by the decline in production of chemicals and fertilizer compared to the same period in 2019 and the decline in demand for products and export activities.

The export was suspended mainly due to blockade orders, restriction on travel - trade, leading to the cancellation of a series of export contracts; on the other hand, there is a lack of manpower and lengthy procedures because of compliance with disease control regulations. In addition, because most of the industry's raw materials still have to be imported from China (such as basic chemicals, artificial fibers, pesticides, and plastic resins, raw materials and synthetic rubber) in the context of the country's industrial production stagnation and difficult trade activities, businesses have to redirect imports from the third market, resulting in rising raw material costs.