Ten world's largest rubber importers boost purchases of Vietnamese rubber

According to the International Trade Center (ITC), rubber imports into nearly all large markets increased in 2021 when compared to the same time in 2020. Malaysia, India, Turkey, Brazil, Japan, and the United States all saw significant increases in imports.

The highlight is that rubber imports from Vietnam climbed significantly in value in each of the ten main import markets in comparison to the same time in 2020.

China was the world's largest rubber import market in the first 11 months of 2021, with USD 11.35 billion, up 16.2 percent over the same period in 2020. Which saw rubber imports from Vietnam surpass USD 2 billion, an increase of 32.2 percent year on year. Vietnam's rubber market share increased to 17.7 percent of the total value of China's rubber imports in the first 11 months of 2021, up from 15.5 percent in 2020.

Between January and November 2021, US rubber imports were USD 4.192 billion, while those from Vietnam totaled USD 76.4 million, an increase of 130.6 percent.

India imported USD 1.93 billion worth of rubber in the first 11 months of 2021, up 47.7 percent from the same time in 2020. India purchased USD 204.6 million of rubber from Vietnam during this time, a 137.5 percent increase over the same period in 2020. Vietnam's rubber market share was 9.4% of India's total rubber import value in the first 11 months of 2021, up from 6.9% in the same period of 2020.

In the remaining top ten markets, rubber imports from Vietnam climbed from 40.7 to 98.5% in value in 2021.