Vietnam rubber exports go almost exclusively to China
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Vietnam exported 757,600 tons of rubber for over US$1 billion to China in the first seven months of this year, accounting for 99.8% of its total rubber exports.
Vietnam is China’s second largest rubber supplier after Thailand.
Its shipments to China were up 12% in volume but down 10% in value year-on-year. The price in July was $1,291 per ton, down 17.9%.
The Ministry of Industry and Trade’s import-export department forecast rubber exports to China to keep rising in the next few months due to a steady increase in demand.
The Chinese government has rolled out a series of policies to support the economy after post-pandemic recovery slowed down.
Vietnam exported over 2.1 million tons of rubber worth $3.3 billion last year, up 9.7% in volume and 1% in value from 2021.
Questions & Answers
Q.What proportion of Vietnam's total rubber exports went to China in the first seven months of this year?
What proportion of Vietnam's total rubber exports went to China in the first seven months of this year?
China received 99.8% of Vietnam's total rubber exports during that period. This amounted to 757,600 tons of rubber, valued at over US$1 billion.
Q.How did Vietnam's rubber exports to China change in volume and value compared to the previous year?
How did Vietnam's rubber exports to China change in volume and value compared to the previous year?
Shipments to China increased by 12% in volume year-on-year. However, the value of these exports decreased by 10% compared to the same period last year.
Q.What is the forecast for Vietnam's rubber exports to China in the coming months?
What is the forecast for Vietnam's rubber exports to China in the coming months?
The Ministry of Industry and Trade’s import-export department expects rubber exports to China to continue increasing. This forecast is based on a steady rise in demand from China.