Rubber exports surge in first half of 2021
VOV.VN - Vietnam raked in US$1.15 billion from exporting approximately 681,000 tonnes of rubber in the first half of the year, with China continuing to increase rubber imports from the country, according to the Import-Export Department under the Ministry of Industry and Trade.
These figures represented a rise of 41.3% in volume and an increase of 79.9% in value compared to the same period from last year.
June alone saw the nation ship roughly 130,000 tonnes of rubber worth US$221 million abroad, marking an increase of 57.1% in volume and 54.2% in value compared to the previous month. Indeed, the average export price reached US$1,700 per tonne, a drop of 1.9% compared to May, but a significant rise of 42.8% compared to June, 2020.
Statistics compiled by the General Administration of Customs of China indicated that China's rubber imports reached US$5.14 billion during the opening five months of the year, an increase of 29.8% compared to the same period from last year.
In addition, Vietnam is among the five largest markets supplier of rubber to China, alongside the likes of Thailand, Malaysia, Japan, and Indonesia.
Furthermore, the country was the second largest rubber supplier to the northern neighbour throughout the reviewed period with US$770.01 million, an annual rise of 77.3%, with the country’s rubber market share as part of China’s total import value accounting for 15%.
During the first half of the year, China's natural rubber imports reached US$1.49 billion, up 49.5% against the same period from last year, with the majority coming from markets such as Thailand, Malaysia, Indonesia, the Ivory Coast, and Vietnam.
Moreover, Vietnam made up the fifth largest natural rubber provider to the Chinese market during the five-month period, with turnover reaching US$88.37 million, an annual rise of 112.1% with the country’s natural rubber market share making up 5.9% of China's total import value.
The northern neighbour’s imports of natural rubber and synthetic rubber reached a figure of US$2 million, an annual rise of 11.5%, with the nation being one of the five largest suppliers of these products to China, alongside Thailand, Malaysia, Myanmar, and Indonesia.
Meanwhile, Vietnam also represented the second largest supplier of natural and synthetic rubber mixtures to the Chinese market in the reviewed period, with turnover reaching US$677.28 million, up 74.6% compared to last year’s corresponding period. As such, the country’s market share of these products accounted for 33.8% of China's total import value.
