In the first 11 months of 2023, rubber exports are estimated to reach over 1.87 million tons, worth 2.51 billion USD, up 0.01% in volume, down 14.7% in value compared to the same period last year. In terms of market, China is still our country's largest export market.
According to statistics from the General Department of Customs, in November, Vietnam exported 253.31 thousand tons of rubber, worth 348.43 million USD, up 16.1% in volume and 18.6% in value compared to the previous year. October 2023; Compared to the same period in 2022, it will decrease by 0.1% in volume, but increase by 1.3% in value.
The average export price in November 2023 is estimated at 1,370 USD/ton, up 1.8% compared to October 2023 and up 1% compared to November 2022. This price has had a relatively positive improvement compared to the first 8 months of the year, when Vietnam's rubber export price averaged only 1,348 USD/ton, the lowest level since 2019.
In the first 11 months of 2023, rubber exports will reach over 1.87 million tons, worth 2.51 billion USD, up 0.01% in volume, but down 14.7% in value compared to the same period in 2022.
Rubber exports to China account for 82.55% in volume of the country's total rubber exports.
In addition to Sri Lanka, rubber exports to a number of other markets in November also grew by double digits, typically: the US (79%); India (56%); Japan increased (52.5%)....
Meanwhile, rubber exports to China, Vietnam's largest market, only increased slightly.
In November, rubber exports to China reached 209,100 tons, equivalent to 285 million USD, flat in volume and up 3% in value compared to November 2022. This is the 10th consecutive month that the amount of rubber exported to this market increased compared to the same period in 2022.
Accumulated in the first 11 months of 2023, Vietnam exported 1.5 million tons of rubber to China, equivalent to 2 billion USD, an increase of 8% in volume, but a decrease of 6% in value compared to the same period in 2022.
The increase in China's rubber demand in the last months of the year has given export businesses in Vietnam the opportunity to boost exports to this market, pulling the year's growth turnover out of negative territory. However, the overall value still decreased over the same period because rubber export prices in the first months of the year were much lower than the average of previous years.
Some other key export markets such as Korea, Russia, the Netherlands... still have good growth in volume over the same period.
https://vnbusiness.vn/thi-truong/xuat-khau-cao-su-thu-ve-2-51-ty-usd-sau-11-thang-1097306.html
According to experts, Vietnam's rubber export turnover this year will hardly reach the value of 3.3 billion USD like in 2022, but in the long term, Vietnam still has good rubber export potential, especially especially to China thanks to the advantage of low price and abundant supply.
