In January 2023, Vietnam exported 1.83 thousand tons of rubber to the US, worth US$2.24 million, down 45.8% in volume and 50% in value compared to December 2022.
The Import-Export Department (Ministry of Industry and Trade) quoted statistics from the General Department of Customs as saying that in January 2023, Vietnam exported 1.83 thousand tons of rubber to the United States, worth 2.24 million USD. . USD decreased by 45.8% in volume and 50% in value compared to December 2022; compared to January 2022, down 45.4% in volume and 60.1% in value. The average export price of Vietnam's rubber to this market is at $1,227/ton, down 7.9% compared to December 2022 and 26.9% lower than January 2022.
In 2022, Vietnam's rubber exports to the US market are mainly natural rubber. In which, the SVR 3L category was exported to the US the most, accounting for 33.18% of the total rubber exported to the US in 2022.
The second category is Latex type, accounting for 24.96% and the third is SVR CV60, accounting for 22% of total rubber exports to the US in 2022. The types of rubber exported to the US mostly decreased during the period. year 2022.
According to statistics of the United States International Trade Commission, in 2022, the United States imported 2.03 million tons of rubber (HS: 4001, 4002, 4003, 4005), worth $4.7 billion, an increase 4.9% in volume and 16.4% in value compared to 2021.
In 2022, Vietnam is the 13th largest rubber supplier to the US with 34.12 thousand tons, worth $ 59.18 million, down 21% in volume and 21.9% in value compared to In 2021, Vietnam's rubber market share in total US rubber imports will account for 1.68%, down from 2.23% in 2021.
In 2022, Vietnam is the 5th largest supplier of natural rubber to the United States, with 34.08 thousand tons, worth 58.77 million USD, down 21% in volume and 22.1% in value. price compared to 2021. Vietnam's natural rubber market share in total US imports accounted for 3.18%, down from 4.23% in 2021. Meanwhile, synthetic rubber of Vietnam accounts for only a small proportion of total US imports.
According to the US International Trade Commission, in 2022, Vietnam's rubber exports to the US will face competition from many markets, such as from Indonesia (accounting for 26.18% of total US rubber imports. United States) and Thailand (accounting for 14.78% of total US rubber imports). Especially, Thailand's rubber market share tends to increase compared to 2021.
According to the Import-Export Department, in 2022, rubber exports to the US will face many obstacles due to fluctuations in the dollar. In addition, the problem of tax refund is quite slow for businesses after exporting, which also slows down capital turnover, affecting more investment for the next business cycle.
However, according to the Import-Export Department, rubber exports are still in a positive trend. Vietnamese rubber is increasingly penetrating the US market. Going forward, fuel prices and overall demand for energy in the United States are expected to decline and reduce pressure on prices, especially transportation costs. This is an optimistic signal for Vietnam's rubber exports to the US in the coming months.
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