According to the preliminary statistics figures of the General Department of Customs, Vietnam’s rubber exports in July of 2019 reached 167,600 tons, worth of 234 million USD, up by 36.5 per cent in volume and 34.2 per cent in value compared to June of 2019 (in June of 2019, the figure increased by 58.4 per cent in volume and 56.1 per cent in value). The average export price in July was 1,396.53 USD per ton, down by 1.7 per cent compared to June of 2019, but compared with July of 2018, it increased by 5.6 per cent.

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.

Currently China is using about 70 per cent of its natural rubber for the tire manufacturing industry. The US tax on tires in particular and products made from rubber in general from China made the Chinese rubber imports tend to decrease. According to the General Department of Customs of China, in the first 4 months of 2019, China imported nearly 4.9 billion USD worth of rubber, down by 7.9 per cent compared to the same period last year.

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.

In the first 7 months of 2019, India was the leading export market, ranked second only after China with 66,470 tons, worth of 95.38 million USD, up by 76.44 per cent in volume and 65.47 per cent in value, and the average export price decreased by 6.22 per cent to only 1,434.79 USD per ton. Particularly in July of 2019, the exports of rubber to India reached 14,200 tons, worth of 21.35 million USD, up by 2.55 per cent in volume and 2.46 per cent in value compared to June of 2019, the average import price was 1,495.14 USD per ton, down by 0.09 per cent. In comparision with July of 2018, it more than doubled in both quantity and value, the average price increased by 3.01 per cent.

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.

In addition to the above markets, Vietnam also exported to other markets such as the U.S, France, Singapore, etc.

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.

In particular, Singapore increased its import of rubber from Vietnam, although with only 111 tons, worth of 164,900 USD, but increased by 2.8 times in volume over the same period last year (ie, 177.5 per cent increase) ) and 2.6 times higher value (ie 162.03 per cent increase). However, the average export price decreased by 5.57 per cent compared to the same period last year to 1,486.12 USD per ton. In addition, the exports to the Czech market also increased sharply by 2.1 times in volume (ie 113.91 per cent increase) and 78.14 per cent in value to 646 tons worth of 870,900.

On the other side, the German and Spanish markets saw a sharp drop in rubber imports from Vietnam, down by 25.25 per cent and 23.66 per cent respectively.