Vietnam’s rubber exports to China made up 70.83% of the total volume and 69.95% of the total value of the country’s rubber exports. The average export price to China reached US$1,653 per tonne, reflecting a 24.8% year-on-year increase.
The majority of these exports were a mix of natural and synthetic rubber, accounting for 81.43% in volume and 84.24% in value of the rubber exports to China.
Despite a decline in overall export volume due to weakening demand in the Chinese market, the export value remained higher than in the previous year. This can be attributed to rising global rubber prices and strong demand from other markets, driven by a global supply shortage.
The export mix is still heavily focused on natural and synthetic rubber, with processed rubber accounting for a small share. As such, industry experts suggest that rubber enterprises should consider strategies to increase the proportion of processed rubber in exports, as well as focus on expanding into new markets, especially in the European Union, to reduce dependence on China.
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