Vietnam's rubber exports to China reach US$ 1.5 billion

According to the General Administration of Customs China, in the first nine months of 2021, China's rubber import turnover reached US$ 9.18 billion, up 19.7% over the same period in 2020.

Vietnam is the second-largest rubber supplier to China with a turnover of US$1.5 billion, up 37% over the same period in 2020.

In the first nine months of 2021, Vietnam's rubber market share in China's total import value accounted for 16.4%, up from 14.3% in the same period of 2020.

For mixed natural rubber and synthetic rubber, Vietnam is the second-largest supplier to China, reaching US$ 1.32 billion, up 38% over the same period in 2020.

Particularly, mixed market share Vietnam's natural rubber and synthetic rubber accounted for 36.9% of China's total import value, a sharp increase from 27.1% in the fist nine months of 2020.

In the first nine months of 2021, Vietnam's rubber exports to China reached 902.78 thousand tonnes, worth US$ 1.46 billion, up 5% in volume and 35.5% in value over the same period in 2020. The average export rubber price reached US$ 1,617 per tonne, up 29% over the same period in 2020.

In which, the mixture of natural rubber and synthetic rubber accounted for 88% of the total rubber exported to China, with 794.45 thousand tonnes, worth US$ 1.3 billion, up 8.6% in volume and increased by 39% in value, with the average export price reaching US$ 1,639 per tonne, up 28% over the same period in 2020.

Most types of rubber exported to China increased in both volume and value over the same period in 2020, notably such as RSS1 increased by 2.100% in volume and increased 2.775% in value; Synthetic rubber increased by 525% in volume and 405.2% in value… However, these items only account for a small proportion of total rubber exports to China.

The average export rubber price of all kinds in the first nine months of 2021 increased sharply compared to the same period in 2020. In which, RSS3 increased by 34.2%; SVR CV60 increased by 33.3%; SVR 3L increased 32.3%...