Vietnam exported 1.25 million tonnes of rubber worth $2.07 billion in the first 11 months of the year, reflecting a 15.5% drop in volume but a 5.5% rise in value compared to the same period last year, according to the Import-Export Department under the Ministry of Industry and Trade.
China remained Vietnam’s largest rubber importer, accounting for 70.83% of export volume and 69.95% of export value. The average export price to China surged by 24.8% year-on-year, reaching $1,653 per tonne. Natural and synthetic rubber dominated these exports, comprising over 81% of the volume and 84% of the value sent to China.
The department attributed the overall decline in export volume to weaker Chinese demand. However, higher global rubber prices and robust demand from other markets amid supply shortages contributed to the increased export value.
Vietnam primarily exported a blend of natural and synthetic rubber to China, with processed rubber accounting for a minimal share. The Import-Export Department urged rubber enterprises to develop strategies to boost the export of processed rubber and diversify markets to reduce dependence on China.
Expanding market share in regions like the European Union was highlighted as a critical step for long-term growth and stability in the sector.
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