China is Vietnam's largest rubber export market, accounting for nearly 70% of Vietnam's total rubber exports
According to Vietnam's 《Business report》, in the first 11 months of 2022, the exportation of Vietnam rubber is around 1.86 million tons, value 2.93 billion US dollars, increased 9.1% and 3% year on year respectively.
Vietnam Agricultural Products Processing and Market Development Bureau said that in November 2022, Vietnam's rubber exportation was about 240000 tons, valued at 328 million US dollars, climbed 7.3% and 4.6% month on month respectively; The year-on-year growth rate was 13.6% and the year-on-year decrease rate was 8.4%. The average export price of rubber in November was US $1366 per ton, down 2.6% month on month and 19.3% year on year.
In the past ten months, China,India and Korea is the three largest rubber consumption market of Vietnam, it’s market share account for 69.5%, 7.1% and 2.6% separately. Besides, Vietnam’s rubber exportation rise increased the fastest to Russia, with a year-on-year growth of 44.4%.
In addition, it is estimated by Vietnam Agricultural Products Processing and Market Development Bureau, In November 2022, Vietnam imported 220000 tons of rubber, valued at 265 million dollars.
In the first 11 months, Vietnam's total rubber imports and value were nearly 2.03 million tons and 2.93 billion US dollars, up 10.1% and 13.1% year on year respectively. Among them, Cambodia (47.9% of the import market share), South Korea (10.5%) and China (9.4%) are the three main import markets of Vietnam rubber. The rubber import volume from the above three markets increased by 15.3%, 13.4% and 50% respectively.
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