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Vietnam is the 12th largest rubber supplier outside the bloc to EU 

 Friday, March 22,2024

AsemconnectVietnam - In 2023, Vietnam will be the 12th largest rubber supplier outside the bloc to EU with 67,820 tonnes, worth 94.35 million Eur (equivalent to 102.86 million USD).

According to statistics from European Statistics Agency, in 2023, EU imported rubber (HS 4001, 4002, 4003, 4005) from markets outside the bloc reaching over 2.1 million tonnes, worth 4,38 billion Eur (equivalent to 4.78 billion USD), down by 22.8% in volume and 32.3% in value compared to 2022.
Among supply sources outside the bloc, Thailand, Ivory Coast, Indonesia, the United States and Korea are the 5 largest markets supplying rubber to EU market. In 2023, EU’s amount of imports rubber from Thai market reached 281,990 tonnes, worth 498.52 million Eur (equivalent to 543.49 million USD), down by 31.7% in volume and down by 46.6% % in value compared to 2022.
The next was Ivory Coast with 274,610 tonnes, worth 398.87 million Eur (equivalent to 434.85 million USD), down 17.6% in volume and 32.6% in value; Indonesia ranked the third with 248,570 tonnes, worth 446.07 million Eur (equivalent to 486.31 million USD), down by 23.4% in volume and down by 38.2% in value compared to 2022.
In 2023, Vietnam was the 12th largest non-bloc rubber supplier to the EU with 67.82 thousand tons, worth 94.35 million Eur (equivalent to 102.86 million USD), down 17.4% in volume and a decrease of 39.6% in value compared to 2022. Vietnam's rubber market share in the EU's total rubber imports from non-bloc markets accounts for 3.23%, higher than the 3.02% of 2022.
In 2023, EU imports from non-bloc markets mainly natural rubber and synthetic rubber and decreased compared to 2022. Out of which, natural rubber accounts for 48.58%. EU's total rubber imports from markets outside the bloc; Synthetic rubber accounts for 46.29%; the rest is recycled rubber and mixed rubber.
In 2023, EU imported 1.02 million tonnes of natural rubber (HS 4001) from markets outside the bloc, with a value of 1.58 billion Eur (equivalent to 1.73 billion USD), a decrease of 24.5% in terms of quantity and decrease 41.8% in value compared to 2022.
Ivory Coast, Thailand, Indonesia, Malaysia and Vietnam are the 5 largest non-bloc markets supplying natural rubber to the EU, amount of natural rubber importing from these markets decrease in 2023.
In 2023, Vietnam was the 5th largest natural rubber supply market for the EU, with 67,800 tonnes, worth 94.19 million Eur (equivalent to 102.68 million USD), down 17.3% in volume and down 39.5% in value compared to 2022. Vietnam's natural rubber market share in total EU imports accounts for 6.64%, higher than 6.06% in 2022.
In 2023, EU imported 972,730 tonnes of synthetic rubber (HS 4002) from markets outside the bloc, with a value of 2.42 billion Eur (equivalent to 2.64 billion USD), a decrease of 22.7% in volume and 28.1% in value compared to 2022.
The United States, South Korea, Russia, Japan and China are the five largest non-bloc markets supplying synthetic rubber to EU. EU synthetic rubber imports from these markets all decreased compared to 2022.
Structure of the non-bloc market supplying synthetic rubber to the EU in 2023 changed when synthetic rubber market share of the United States, Korea, Japan and China increases; Meanwhile, Russia's market share decreased sharply. Vietnam's synthetic rubber accounts for only 0.001% of EU's total imports from markets outside the bloc.

Source: Vitic/ congthuong.vn
 

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