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The proportion of China's rubber imports from the Vietnamese market increased

In the first 10 months of 2022, rubber imports from Vietnam of some markets all decreased compared to the same period in 2021, but China still increased by 31.5%, and the proportion increased from 15% to 16.7%.


Source: Internet


According to the Agency of Foreign Trade, in the 10 months of 2022, rubber imports of most major markets in the world increased compared to the same period in 2021. In which, rubber imports of these markets are from Vietnam. all decreased compared to the same period in 2021, excluding China and India.


Specifically, in the 10 months of 2022, China is the world's largest rubber import market, reaching $10.1 billion, an increase of more than 17% compared to the same period in 2021. In which, China's rubber imports from Vietnam reached $1.7 billion, up 31.5% over the same period in 2021, accounting for 16.7% of the total rubber import value of this market, higher than 15% of the same period in 2021.


Vietnam is the second largest rubber supplier to China, after Thailand. According to the Agency of Foreign Trade, China gradually eases COVID-19 prevention measures, and Vietnam's rubber exports will be supported when the market demand recovers and rubber prices are likely to recover.


For India, rubber imports from Vietnam reached $233.4 million, up 48.5% over the same period in 2021.


Meanwhile, the value of rubber imports from Vietnam of the US, Malaysia, and Germany decreased by 7%, 4.5%, and 29.5%, respectively.


In general, in 2022, despite being greatly affected by the COVID-19 epidemic and the world economy facing many difficulties, Vietnam's chayote exports still have positive growth. According to estimates of the Agency of Foreign Trade, in 2022, Vietnam's rubber exports will reach about 2.14 million tons, worth %3.31 billion, increased by 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.

(VietnamBiz)



RUBBER INDUSTRY REPORT - 11/2022



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