Vietnam remains second largest rubber supplier to Chinese market

VOV.VN - During the initial four months of the year the nation was the second largest rubber supplier to China with US$721.51 million, an annual rise of 2.2%, according to the General Administration of China Customs.

Throughout the reviewed period China's rubber import turnover (HS code 4001, 4002, 4003, 4005) reached US$4.65 billion, up 9.5% on-year.

Most notably, Thailand, Vietnam, Malaysia, Japan, and the Republic of Korea make up the five largest rubber suppliers to China.

During this time, the northern neighbour boosted its import of rubber from a number of markets, including Thailand, Vietnam, Japan, Laos, Myanmar, and the Ivory Coast.

Furthermore, Vietnamese rubber market share as part of China's total import value in the first four months of the year accounted for 15.5%, representing a drop of 16.6% on-year.

During the initial four months of the year the nation stood as the seventh largest supplier of natural rubber to China with US$70.65 million, down 14.1% over the same period from 2021. Indeed, the natural rubber market share of Vietnam made up 4.7% of China's total imports, an annual drop of 6.8%.

During the course of the four-month period, the nation represented the second largest supplier of a mixture of natural rubber and synthetic rubber to the Chinese market with US$645.41 million, up 4.1% over the same period from last year.

In line with this, the market share of the country’s mixed natural rubber and synthetic rubber of accounted for 34.5% of the total import turnover of natural rubber and synthetic rubber of China, down from 36.3% compared to the first four months of 2021.