According to preliminary statistics from the General Department of Customs, in the first six months of 2018, rubber exports of Vietnam increased both in volume and value compared with January 2017, up 45.7% in volume and 10.8% in value, reached 135.7 thousand tons with the equivalent of $ 198.6 million, but compared to the last months of 2017 decreased 19.8% in volume and 18.8% in value.
Overview of exporting rubber in Vietnam in 2018
Currently, China is the main export market of Vietnam's rubber industry. The volume of rubber exported to this market accounts for 55.2% of the total commodities with 74.9 thousand tons worth USD 108.8 million, accounting for 54.7%. % of total turnover, increasing 17.26% in volume but decreasing 13.9% in value compared with January 1/1717.
The largest rubber export market is followed by Malaysia and India, as the volume of rubber exported to these two markets increased sharply in volume and value, reaching over 100%. Specifically, the volume of rubber exported to Malaysia increased 166.27% in volume and 111.66% in value, reaching 11.6 thousand tons, equivalent to 16.1 million USD. In addition, Vietnam also exported 10.8 thousand tons worth $ 16.6 million, rising 470.44% in volume and 468.54% in value over the same period.
In addition to these three markets, Vietnam's rubber industry is also exported to other countries such as Russia, France, Japan, Taiwan (China). In general, in the first months of this year, the volume of rubber exported to the markets was growing, accounting for 89.2% of which exports to the UK and Sweden increased significantly, more than 10 times in volume and 8 times in terms of value. In contrast, some export markets of Vietnam had a decline in rubber exports, only 10.7% of which exports to Finland had the strongest drop of 40.1% in volume and 57.27% in value over the same period of 2017.
Overview of world’s rubber industry in 2018
According to the Association of Natural Rubber Producing Countries (ANRPC), global natural rubber production is estimated at 13.3 million tons in 2017, up from 12.4 million tons in 2016. 90% of the world's natural rubber supply is produced by ANRPC. Global natural rubber consumption is estimated at 12.9 million tons in 2017, up 1.4 percent from 2016.
China is currently the world's largest consumer of rubber, according to Chinese Customs statistics. In 2017, China's rubber imports totaled $ 18.75 billion, up 36.7% from 2016. Vietnam ranks fourth in terms of supply of rubber to China with a 57.8% increase over 2016. In 2017, China's import of rubber from Vietnam increased to 8% compared to 7.4 % of 2016. China's import of rubber from other markets also increased such as Thailand, Malaysia, Indonesia, etc.
For more information on machinery, equipment, technology and materials in the Rubber and Tyre industry in Vietnam, visit Rubber & Tyre Vietnam 2019, which is held annually from June 26th - 28th, 2019 at Saigon Exhibition and Convention Center (SECC), Ho Chi Minh.