17-19, June 2020, HO CHI MINH CITY

Rubber product exports to continue to grow

The export of rubber products has continuously grow

In recent years, the export of rubber products has continuously grown for three consecutive years. From 482.8 million USD in 2016 to 710.52 million USD at the end of 2018, up 19.1% compared to 2017.

The good signal for the rubber market is the export of rubber products has continuously grown in recent years. Particularly, from reaching 482.8 million USD in 2016, increasing by 12.5% compared to 2015, this figure increased to 596.89 million USD in 2017, up 23.6% compared to 2016 and reached 710.52 million USD in 2018, an increase of 19.1% compared to 2017. Specifically, December 2018 reached 64.73 million USD, an increase of 3.5% compared to November 2018.

Key export markets of rubber products of Vietnam are the US, Japan, EU and China markets. Among these, the US is the market with the largest proportion of 21.21%, reaching 150.76 million USD, up 29.04% compared to 2017. Particularly, in 12/2018 turnover reached 15.98 million USD, up 13.3% compared to 11/2018 and up 46.12% compared to 12/2017.

Ranked second is Japan with the turnover in 12/2018 being 11.43 million USD, down 3.79% compared to 11/2018 but up 18.34% compared to 12/2017. The whole year 2018 reached 132.46 million USD, up 19.05%. For the EU market, the year 2018 exported 118 million USD, an increase of 31.82% compared to 2017.

In addition, China imported 89.74 million USD of rubber products from Vietnam, an increase of 17.87% compared to 2017, and 7.99 million USD in 12/2018, an increase of 0.97% compared to 11/2018, up 9.17% compared to December 2017. Besides, there are some markets for importing other rubber products such as Bangladest, Saudi Arabia, Cambodia, etc.

In 2018, the export turnover of products from rubber has mostly grown by over 73%, among which exports to the Spanish market increased significantly, over 3.9 times (an increase of 299.24%). Although it reduced by 54,32% in 11/2018, compared to 11/2018, it increased by 3.8 times (an increase of 287.40%) equivalent to 239 thousand USD compared to 12/2017.

The export to the Brazilian market also increased quite well, increasing by 97.21% compared to 2017 reaching 12.8 million USD, in particular 12/2018 increased by 6.27% compared to 11/2018 and doubled (increased by 103.35%) compared to 12/2017, reaching 1.4 million USD. However, the export of rubber products to Hongkong (China) and Thailand dropped sharply, by 27.95% and 21.04% respectively, to 187.8 thousand USD and 922.4 thousand USD.

According to the Vietnam Timber and Forest Products Association (Vifores), Vietnam is currently one of the leading countries in productivity in Asia and the third largest supplier of natural rubber, accounting for about 8.1% of the world's total rubber production, behind Thailand and Indonesia. With many opportunities brought about by free trade agreements, Vietnam's rubber industry is deeply integrated into the world market.

According to Vifores, natural rubber materials, rubber products, rubber wood and furniture made from rubber wood are identified as the three key export products of the rubber industry today. With many economic sectors participating in production, cultivation, processing and consumption, the domestic rubber industry is gradually improving and has created jobs for about 500 thousand workers involved in different stages of the supply chain.

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