| Deep processing increases rubber export value to the US Rubber export price in May 2024 increased by 19.6% over the same period |
The Import-Export Department (Ministry of Industry and Trade) cited statistics from the General Department of Customs, saying that in May 2024, Vietnam's rubber exports reached 84.46 thousand tons, worth 135.64 million USD, up 14.8% in volume and 14.5% in value compared to April 2024, but down 27.9% in volume and 14.9% in value compared to May 2023. This is the second consecutive month that rubber exports have decreased compared to the same period in 2023.
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| Sri Lanka market unexpectedly increased rubber imports from Vietnam market with an increase of 435.7% in volume and 530.5% in value in the first 5 months of the year. |
In the first 5 months of 2024, rubber exports reached 572.28 thousand tons, worth 859.4 million USD, down 2.4% in volume, but up 6% in value over the same period in 2023.
In May 2024, China remained Vietnam's largest rubber export market, accounting for 59.81% of the country's total rubber exports, reaching 50.51 thousand tons, worth 76.01 million USD, up 19.9% in volume and 19.5% in value compared to April 2024. However, compared to May 2023, it decreased by 42.1% in volume and 34.6% in value, this is the fourth consecutive month that rubber exports to China decreased compared to the same period in 2023.
The average export price of rubber to China was 1,505 USD/ton, down 0.2% compared to April 2024, but up 13% compared to May 2023. In the first 5 months of 2024, Vietnam exported 380,410 tons of rubber to China, worth 547.31 million USD, down 14.2% in volume and 8.8% in value compared to the same period in 2023.
In May 2024, rubber export volume decreased, but exports to some major markets still grew well compared to May 2023 such as: Korea, Russia, Indonesia, Sri Lanka, Brazil, Italy, Spain... Meanwhile, exports to some markets decreased sharply such as: China, India, Taiwan, Turkey, the United States, Japan, Germany...
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Vietnam's 10 largest rubber export markets in May 2024 (Source: Calculation from statistics of the General Department of Customs) |
In the first 5 months of 2024, rubber exports to many major markets decreased compared to the same period last year, especially markets such as China, the Netherlands, Peru... However, exports to some markets still grew well compared to the same period in 2023 such as India, Korea, Russia, Indonesia, Sri Lanka, Turkey, Brazil, Italy...
Notably, the Sri Lankan market unexpectedly increased rubber imports from the Vietnamese market with an increase of 435.7% in volume and 530.5% in value in the first 5 months of the year, bringing the market share of rubber exported to this market in Vietnam's total rubber exports from 0.26% to 1.43%.
Source: https://congthuong.vn/mot-quoc-gia-bat-ngo-tang-nhap-khau-cao-su-tu-thi-truong-viet-nam-327342.html
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