Vietnam, a renowned nation in the rubber industry, has seen significant growth in its rubber exports during the first nine months of 2023. According to the General Department of Customs, in this period, our country exported approximately 1.42 million tons of rubber, valued at 1.89 billion USD, displaying an impressive upward trajectory, with a 1.6% increase in volume compared to the same period in 2022.
Despite the observed growth in volume, the average export price of rubber has decreased, standing at 1,283 USD per ton, marking a 0.6% decrease from August 2023 and an 11.2% decrease from September 2022. With this fluctuation, the value of Vietnam's rubber exports in the first nine months of 2023 has declined by 17.4% compared to the same period in 2022.
Throughout the first eight months of 2023, the main rubber types exported by Vietnam include natural and synthetic rubber blends (HS 400280), Latex, SVR 10, SVR 3L, SVR CV60, RSS3, SVR 20, among others.
Notably, China remains the primary market for Vietnam's rubber exports, accounting for 99.73% of volume and 99.56% of value in the total natural and synthetic rubber exports of Vietnam. During this period, rubber exports to China reached over 807,000 tons, valued at 1.09 billion USD. Although the value decreased by 3.5% compared to the same period in 2022, rubber exports to the Chinese market increased by 19.4% in terms of volume, demonstrating stability in the trade relationship between the two countries.
The increase in Vietnam's rubber exports in the first nine months of 2023 holds promising prospects for the country's rubber industry and contributes significantly to the national economy. However, to maintain and enhance stability in rubber trade, Vietnam needs to continue monitoring the market and consider measures to boost export value while minimizing price fluctuations.
Source: Quan Doi Nhan Dan Newspaper
