Local rubber exports to China enjoy impressive growth
VOV.VN - Vietnam exported a total of 1.36 million tonnes of rubber worth a total of US$1.83 billion to China last year, representing an increase of 17.4% in volume and a rise of 18.1% in value, according to the General Department of Vietnam Customs.
Of the total, natural rubber and synthetic rubber were the most exported commodity to China, making up 83.32% of the country’s total rubber exports to the northern neighbour.
The export of both products reached 1.13 million tonnes worth US$1.55 billion, marking a boost of 23.7% in volume and 24.7% in value compared to the same period from 2019.
Last year witnessed several types of rubber exported to China achieve positive growth in both volume and value compared to 2019, with latex topping the list, rising by 52.6% in volume and 67.3% in value.
The impressive growth of Vietnamese rubber exports to China is attributed to the importer’s launch of a policy aimed at boosting the use of small cars, thereby encouraging tire manufacturers to increase production.
Furthermore, rubber production within China endure a decline due to significant storms hitting Hainan island and droughts affecting Yunnan, thereby having a negative impact on rubber harvests.
According to statistics released by the Chinese General Administration of Customs, last year saw China's rubber imports reach US$10.94 billion, up 4.6% compared to 2019. Thailand, Vietnam, Malaysia, Indonsia and the Republic of Korea represent the five largest rubber suppliers to the Chinese market.
