Import and Export Department (Ministry of Industry and Trade) cited data from Chinese Customs Administration, saying that in August 2024, China imported 638,640 tonnes of rubber (HS 4001, 4002, 4003, 4005), with a value of 1.14 billion USD, up 0.5% in volume and 1.2% in value compared to July 2024; Compared to August 2023, it decreased by 4.3% in volume but increased by 18.5% in value. This is the 6th consecutive month that China's rubber imports decreased compared to the same period in 2023. In the first 8 months of 2024, China imported 4.69 million tonnes of rubber, worth 7.82 billion USD, down 13.6% in volume and 2.5% in value compared to the same period in 2023. Thailand, Vietnam, Malaysia, Russia and South Korea are the 5 largest markets supplying rubber to China. Except for Thailand and Vietnam, amount of rubber imported from the remaining markets all increased compared to the same period in 2023.
In the first 8 months of 2024, Vietnam was the second largest rubber supplier to China with 791,710 tonnes, worth 1.17 billion USD, down 19.2% in volume and 10.3% in value compared to the same period in 2023. Vietnam's rubber market share accounted for 16.88% of China's total rubber imports in the first 8 months of 2024, lower than the 18.06% in the first 8 months of 2023.
In the first 8 months of 2024, China mainly imported natural rubber and synthetic rubber, import volume both decreased compared to the same period in 2023. Of which, natural rubber accounted for 31.14% of China's total rubber imports; Synthetic rubber accounts for 65.1%; the rest is recycled rubber and mixed rubber.
In the first 8 months of 2024, China imported 1.46 million tonnes of natural rubber (HS 4001), worth 2.27 billion USD, down 13.6% in volume, but up 3.1% in value compared to the same period in 2023, mainly imported from markets: Thailand, Ivory Coast, Malaysia, Vietnam and Myanmar.
In particular, China increased its import of natural rubber from Vietnam; while reducing imports from Thailand, Ivory Coast, Malaysia and Myanmar compared to the same period in 2023.
In the first 8 months of 2024, Vietnam was fourth largest natural rubber supplier to China, reaching 137,350 tonnes, worth 177.75 million USD, up 10.1% in volume and 30.6% in value over the same period in 2023. Vietnam's natural rubber market share accounted for 9.4% of China's total natural rubber imports, higher than the 7.38% in the first 8 months of 2023. In the first 8 months of 2024, China imported 1.95 million tonnes of mixed natural rubber and synthetic rubber (HS 400280), worth 3.05 billion USD, down 22.8% in volume and down 12.9% in value over the same period in 2023. Thailand, Vietnam, Malaysia, Laos and Myanmar are the 5 markets supplying this type of rubber. This is the largest market for China.
Vietnam is the second largest supplier of natural rubber and synthetic rubber blends to China with 644,040 tonnes, worth 981.71 million USD, down 23.9% in volume and 15.2% in value compared to the same period in 2023; accounting for 32.97% of China's total imports, lower than the 33.42% in the first 8 months of 2023.
In the first 8 months of 2024, China's imports of natural rubber and synthetic rubber blends from Thailand reached 797,070 tonnes, worth 1.28 billion USD, down 40.5% in volume and 31.1% in value compared to the same period in 2023; accounting for 40.8% of China's total imports, down from 52.95% in the same period in 2023. Meanwhile, China's natural rubber and synthetic rubber imports from other markets increased compared to the same period in 2023.

Source: Vitic/ congthuong.vn