Exports of rubber in first 7 months increased
Monday, August 19,2019AsemconnectVietnam - By the end of June of 2019, Vietnam’s rubber exports grew strongly in both quantity and value. In July of 2019, the exports of this commodity still maintained its growth momentum, although the speed decreased.
The country’s total rubber exports in the first 7 months of 2019 reached 781,700 tons, worth of over 1 billion USD, up by 10.7 per cent in volume and 6.5 per cent in value over the same period of 2018. The average rubber export price in the first 7 months of 2019 was at 1426.87 USD per ton, down by 3.5 per cent.
Also according to the preliminary statistics figures from the General Department of Customs, in the first 7 months of 2019, Vietnam's rubber export to China increased in both quantity and value over the same period last year to 498,54o tons, valued at 677.11 million USD, up by 9.62 per cent in volume and 6.05 per cent in value, but the average export price decreased by 3.25 per cent to 1,358.18 USD per ton. Particularly in July 2019, the exports of rubber to this market increased by 63.31 per cent in volume and 60.58 per cent in value, equivalent to 111,600 tons, worth of 153.50 million USD, however, the average export price decreased by 1.67 per cent compared to June of 2019, reaching 1374.92 USD per ton. In comparison with July of 2018, it also increased by 21.99 per cent in volume and 29.45 per cent in value, the average price increased by 6.12 per cent. This is also a market with a large market share of over 63 per cent of the total group of exports.
In the context of the escalation of the US-China trade war, to avoid reliance on the Chinese market, the Ministry of Industry and Trade recommends that enterprises diversify their products as well as expand export markets, including paying attention at Indian market, where tire industry is growing fast.
The next was Malaysia with 25,200 tons, worth of over 34 million USD, down by 13.95 per cent in volume and 13.51 per cent in value over the same period last year. The average export price increased by 0.51 per cent to 1,349.33 USD per ton; South Korea was the third market with 24,800 tons, worth of 36.36 million USD, up by 39.86 per cent in volume and 32.09 per cent in value over the same period last year, the average export price decreased by 5.55 per cent to only 1,461.62 USD per ton.
Notably, Vietnam also exported rubber to some new markets such as Srilanka, Peru and Bangladesh with export volume of 5,860 tons; 1,070 tons and 4,660 tons.
Vietnam’s rubber exports in the first 7 months of 2019 – source: the General Department of Customs
Market
|
First 7 months of 2019
|
+/- First 7 months of 2019 vs. same period of 2018(%)
|
||
Volume (Ton)
|
Value (USD)
|
Volume
|
Value
|
|
China
|
498,542
|
677,110,916
|
9.62
|
6.05
|
India
|
66,479
|
95,383,341
|
76.44
|
65.47
|
Malaysia
|
25,203
|
34,007,165
|
-13.95
|
-13.51
|
South Korea
|
24,881
|
36,366,650
|
39.86
|
32.09
|
The U.S
|
17,474
|
23,431,410
|
2.43
|
-4.55
|
Germany
|
16,390
|
23,257,403
|
-25.25
|
-31.84
|
Taiwan
|
14,068
|
20,701,368
|
-11.79
|
-16.94
|
Turkey
|
13,974
|
19,449,336
|
-5.53
|
-8.48
|
Indonesia
|
8,981
|
13,763,095
|
-2.47
|
-1.58
|
Brazil
|
7,545
|
8,517,739
|
37.51
|
17.82
|
Italy
|
6,757
|
8,620,965
|
-17.37
|
-26.31
|
The Netherlands
|
6,321
|
7,767,690
|
23.12
|
22.22
|
Japan
|
6,122
|
9,735,685
|
-5.73
|
-8.59
|
Spain
|
5,034
|
6,373,342
|
-23.66
|
-33.66
|
Russia
|
3,938
|
5,683,076
|
-14.89
|
-16.2
|
Pakistan
|
3,217
|
4,478,558
|
1.51
|
-1.09
|
Belgium
|
2,670
|
2,642,394
|
-16.98
|
-27.5
|
Canada
|
2,297
|
3,450,948
|
-25.71
|
-25.47
|
France
|
2,220
|
3,385,885
|
29.3
|
27
|
Mexico
|
2,150
|
2,840,983
|
50.45
|
36.82
|
Britain
|
1,604
|
1,947,716
|
13.44
|
-6.55
|
Sweden
|
1,270
|
1,764,339
|
18.91
|
11.06
|
Hong Kong (CN)
|
1,077
|
1,518,268
|
-9.87
|
-15.79
|
Finland
|
1,068
|
1,563,491
|
1.91
|
-7.51
|
Argentina
|
916
|
1,325,608
|
-10.55
|
-16.22
|
Czech
|
646
|
870,904
|
113.91
|
78.14
|
Ukraine
|
165
|
240,945
|
-19.51
|
-32
|
Singapore
|
111
|
164,959
|
177.5
|
162.03
|
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