Vietnam’s rubber exports to Malaysia rise fivefold in 2024
VOV.VN - Vietnam exported 38,442 tonnes of rubber worth US$56.16 million to Malaysia last year, surging by 433.5% in volume and 515.7% in value year-on-year, according to the Ministry of Industry and Trade.
This was also the highest-ever figure recorded in the last six years, making Malaysia the fourth largest market for Vietnam’s rubber exports with a market share of 1.9%.
China remained Vietnam’s largest rubber export market, accounting for 67.6% of the total market share. Other key markets included India (7.7%), the EU (6%) and the Republic of Korea (2.5%).
Malaysia is one of the world's largest rubber producers, with an average annual output of 348,000 tonnes of natural rubber. However, the country also imports rubber from other countries.
According to data from the Malaysian Department of Statistics, in the first 11 months of 2024, Malaysia imported 931,359 tonnes of natural rubber, an increase of 6.9% over the same period in 2023.
The leading rubber suppliers included Ivory Coast, accounting for 34.8%, Thailand, 33.2%, Myanmar, 8.5%, and the Philippines, 7.7%.
Vietnam also emerged as the sixth largest supplier of rubber to Malaysia with 22,930 tonnes, accounting for 2.5%.
