In the first 7 months of 2022, rubber exports reached 983.76 thousand tons, worth USD 1.68 billion, up 7.2% in volume and 9% in value over the same period in 2021. High market share Vietnam's rubber in the total import value of China increased.
The Import-Export Department (Ministry of Industry and Trade) quoted statistics from the General Department of Vietnam Customs as saying that in July 2022, Vietnam exported 196.5 thousand tons of rubber, worth $318.98 million. increased by 4.6% in volume and 2.9% in value compared to June 2022; however compared to July 2021, down 3.9% in volume and 5.7% in value.
In the first 7 months of 2022, rubber exports reached 983.76 thousand tons, worth US$1.68 billion, up 7.2% in volume and 9.1% in value over the same period in 2021.
In July 2022, the average export price of rubber reached USD 1,623/ton, down 1.7% compared to June 2022 and down 1.8% compared to July 2021. Rubber exports to some major markets increased in both volume and value compared to July 2021, notably: India, South Korea, Turkey, and Indonesia. , Russia, Canada, Spain…; However, some markets still reduce rubber imports from Vietnam such as Taiwan, the United States, Sri Lanka, Pakistan, Japan...
In general, Vietnam's rubber exports to most markets have grown well compared to the same period in 2021. In July 2022, China was still the largest market for Vietnam's rubber consumption, with over 140 thousand tons, worth more than USD 220 million, up 4.8% in volume and 3.6% in value compared to June, accounting for 71.3% of the country's total rubber export value; however, compared to July 2021, down 7.6% in volume and 10.3% in value.
The average export price of rubber to China was at $1,572/ton, down 1.1% compared to June 2022 and down 3% compared to July 2021. Accumulated in the first 7 months of 2022, Vietnam exported 676.36 thousand tons of rubber to China, worth 1.12 billion USD, up 5.3% in volume and 7.8% in value over the same period. period 2021.
Vietnam's rubber export volume in 2020 - 2022
(Unit: thousand tons)
Source: General Department of Customs
In recent months, China's rubber import demand tends to increase again. Although China is still implementing the "Zero Covid" policy, this country still needs to import a large amount of rubber latex and preliminarily processed rubber to serve the production of rubber products in this country.
In the first 6 months of 2022, Vietnam is the second largest rubber supplier to China with $959.67 million, up 10.6% over the same period in 2021. Vietnam's rubber market share in total value China's import price in the first 6 months of 2022 accounted for 14.45%, higher than 14.37% in the first 6 months of 2021.
In terms of export categories, most of the exported rubber categories have good growth compared to the same period in 2021. In which, a mixture of natural rubber and synthetic rubber (HS 400280) is the product that is imported. exported the most, accounting for 64.4% of the total value of rubber exports of the country, with more than 197 thousand tons, worth 333.38 million USD, up 13.6% in volume and more than 15% in value.
In which, exports to China accounted for almost entirely of the total value of the country's total export of natural rubber and synthetic rubber, with 19.8 thousand tons, worth nearly 323 million USD, up 14 .2% in volume and 15.8% in value over the same period in 2021.
In the second quarter, the average export price of some types of rubber tends to increase compared to the same period in 2021, notably, SVR 20 increased by 4.3%; mixed rubber (HS 4005) increased by 14.8%. However, the average export price of some types tended to decrease such as: SVR 3L decreased by 5.8%; SVR CV60 decreased by 7.8%; RSS3 down 5.5%...
