99.78% of the country’s total natural and synthetic rubber exports are exported to China.
According to the Import-Export Department (Ministry of Industry and Trade), citing the General Department of Customs, in November 2022, Vietnam’s rubber exports reached about 240,000 tons, worth 328 million USD, up 7.3% in volume and increased 4.6% in value compared to October 2022.
In the first 11 months of 2022, rubber exports reached about 1.86 million tons, worth 2.93 billion USD, up 9.1% in volume and 3% in value over the same period in 2021.
In the 10 months of 2022, Vietnam’s exported rubber products are mainly a mixture of natural and synthetic rubber (HS 400280), Latex, SVR 3L, SVR 10, SVR CV60, RSS3…
In which, the mixture of natural rubber and synthetic rubber is still the most exported product, accounting for 58% of the country’s total rubber exports, with 940,280 tons, worth $1.52 billion, an increase. 1.6% in volume, but down 0.2% in value over the same period in 2021.
In which, exports to China accounted for 99.78% of the country’s total export of natural rubber and synthetic rubber, reaching 938,200 tons, worth $1.51 billion, up 2% in volume. and increased 0.1% in value over the same period in 2021.
Regarding export prices, in the first 10 months of 2022, the average export prices of most types of rubber are in a downward trend compared to the same period in 2021.
According to statistics from the Chinese Customs, in the 10 months of 2022, China’s rubber import value reached 10.71 billion USD, up 5.7% over the same period in 2021. Thailand, Vietnam , Malaysia, Japan and Korea are the 5 largest markets supplying rubber to China.
In the 10 months of 2022, Vietnam is the second largest rubber supplier to China with US$1.81 billion, up 6.6% over the same period in 2021.
Vietnam’s rubber market share in China’s total import value in 10 months of 2022 accounted for 16.9%, higher than 16.7% in 10 months of 2021.
See more: The average export price of rubber in November hit the bottom of nearly two years
