In the first four months of 2022, Vietnam is the second largest rubber supplier to China with USD 721.51 million, an increase of 2.2% over the same period in 2021.

The Import-Export Department (Ministry of Industry and Trade) quoted statistics from the General Administration of Customs China showing that, in the first four months of 2022, China's rubber import turnover (HS code 4001, 4002, 4003, 4005) reached USD 4.65 billion, an increase of 9.5% over the same period in 2021. Thailand, Vietnam, Malaysia, Japan and South Korea are the five largest markets supplying rubber to China.

During this time, China boosted the import of rubber from a number of markets such as Thailand, Vietnam, Japan, Laos, Myanmar, Ivory Coast, etc. In the first four months of 2022, Vietnam is the second largest rubber supplier to China with USD 721.51 million, an increase of 2.2% over the same period in 2021. Vietnam's rubber market share in China's total import value in the first four months of 2022 accounted for 15.5%, down from 16.6% in the first four months of 2021.

Each month, China consumes about 500,000 tons of natural rubber, while the domestic supply can only meet about 115,000 tons. Therefore, China's rubber import demand is quite large. However, supply chain disruptions due to China's "Zero Covid" policy will affect China's rubber consumption in 2022.

Regarding types, in the first four months of 2022, China's natural rubber import turnover (HS code: 4001) reached USD 1.5 billion, an increase of 23.8% over the same period in 2021, with imports mainly from markets such as Thailand, Ivory Coast, Malaysia, Laos, Indonesia, Myanmar and Vietnam.

In the first four months of 2022, Vietnam is the 7th largest natural rubber supplier to China with USD 70.65 million, a decrease of 14.1% over the same period in 2021. Vietnam's natural rubber market share accounts for 4.7% of China's total imports, down from 6.8% in the first four months of 2021.

In the first 4 months of 2022, Vietnam is the second largest supplier of mixtures of natural rubber and synthetic rubber to the Chinese market with USD 645.41 million, an increase of 4.1% over the same period in 2021. The market share of mixtures of natural rubber and synthetic rubber of Vietnam accounted for 34.5% of the total import turnover of natural rubber and synthetic rubber of China, down from 36.3% in the first four months of 2021.

During this time, China also promoted the import of a mixtures of natural rubber and synthetic rubber from markets such as Thailand, Myanmar, Laos, Cambodia, the Philippines; while reducing imports from Indonesia, Malaysia, etc. compared to the same period in 2021.

Kylie Nguyen