AsemconnectVietnam - In the first quarter of 2023, Vietnam’s rubber exports reached 381,780 tonnes, worth of 531.3 million USD, down by 6.1% in volume and by 25.7% in value over the same period of 2022.

The Ministry of Industry and Trade, citing the statistics figures from the General Department of Customs, assessed that in March of 2023, Vietnam exported 115,900 tonnes of rubber, worth of 163.92 million USD, down by 11.6% in volume and down by 11.4% in value compared to February of 2023. In comparison with March of 2022, the figure increased by 3.1% in volume, but decreased by 19% in value.
Totally in the first 3 months of 2023, Vietnam’s rubber exports reached 381,780 tonnes, worth of 531.3 million USD, down by 6.1% in volume and by 25.7% in value over the same period of 2022.
Regarding export markets, in March 2023, China was still the largest market for Vietnam's rubber consumption, accounting for 74.9% of the country's total rubber exports, with 86,810 tonnes, worth of 119.86 million USD, down by 12.1% in volume and 11.6% in value compared to February of 2023. In comparison to March of 2022, the country’s rubber exports increased by 24.4% in volume, but decreased by 1.9% in value.
The average export price of rubber to China was at 1,381 USD/tonne, up by 0.6% compared to February of 2023, but down by 23.3% compared to March of 2022. Totally in the first 3 months of 2023, Vietnam exported to China 292,610 tonnes of rubber, worth of 397 million USD, up by 4.4% in volume, but down by 17.8% in value over the same period of 2022.
In addition to the Chinese market, in the first 3 months of 2023, rubber exports to most markets decreased compared to the same period last year, however, the exports to several markets, such as Russia, the Netherlands, and Malaysia still grew well in both volume and value compared to the same period of 2022.
For the European market in general, there is still a lot of room for the rubber industry because based on export results in 2022, the Import-Export Department (Ministry of Industry and Trade) assessed that Vietnam's rubber market share is shrinking in the EU market, while the rubber market share of Thailand and Coast Ivory increased compared to 2021.
Vietnam still ranks 4th among ASEAN countries in terms of rubber market share in the EU. In the EU market, industry, production, and consumption are growing strongly (production of aircraft, automobiles, motorcycles, equipment and machinery for manufacturing, healthcare, consumer goods). EU consumption demand for rubber and rubber products is very large, especially high-grade rubber (SVR CV) and SVR 10, SVR 20 categories, which are forecasted to have many export opportunities to the EU in the following years.
CK
Source: VITIC/haiquanonline.com.vn