Rubber exports set a record of $3.3 billion

It is estimated that in 2022, Vietnam's rubber exports reach about 2.1 million tons, worth more than $3.3 billion, up 9.6% in volume and more than 1% in value compared to 2021. Although only slightly increased compared to the previous year, rubber export turnover has also set a new record with $3.3 billion.

The Agency of Foreign Trade said that in 2022, despite being greatly affected by the COVID-19 epidemic and the world economy facing many difficulties, Vietnam's rubber exports still grow positively. It is estimated that in 2022, Vietnam's rubber exports reach about 2.1 million tons, worth $3.3 billion, up 9.6% in volume and more than 1% in value compared to 2021. The average export price reached $1,547/ton, down 7.8% compared to 2021.

According to statistics of the General Department of Customs, in the 11 months of 2022, Vietnam's rubber exports increased by 9.8% in volume and 3.5% in value over the same period in 2021.

However, in the face of high USD exchange rate fluctuations, while rubber latex prices were low in the last few months of the year, the correlation between rubber production costs and selling prices was unbalanced.

Regarding the export market, in the first 11 months of 2022, Vietnam's rubber is mainly exported to Asia, up nearly 13% in volume and 6.6% in value over the same period in 2021.

In general, Vietnam's rubber exports to most markets have grown well over the same period in 2021. In which, China is still the largest market for Vietnam's rubber consumption, up 14% in volume and 6.3% in value over the same period in 2021, accounting for 70.8% of the total rubber export value of the country.

India ranked second with 114 thousand tons, worth nearly $195 million, up 8.8% in volume and 4.5% in value over the same period in 2021, accounting for 6.6% of the country's total rubber export value in the first 11 months of 2022.

During the period, exports of most types of rubber grew well compared to the same period in 2021. However, Vietnam still mainly exports natural rubber and mainly exports to the Chinese market.

(VietnamBiz)

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