In April 2024, the United States is Vietnam's 10th largest rubber export market, the volume and value of rubber exported to this market increased compared to the same period in 2023.

According to statistics from the General Department of Vietnam Customs, in April 2024, Vietnam exported nearly 1.09 thousand tons of rubber to the United States, worth USD 1.87 million, an increase of 0.3% in volume and an increase of 17.5% in value compared to April 2023.

Accumulated in the first four months of 2024, Vietnam's rubber exports to the United States reached nearly 7.46 thousand tons, worth USD 11.7 million, an increase of 37.1% in volume and an increase of 58.2% in value compared to the same period in 2023.

Rubber exports to the United States have resumed growth, Vietnam's rubber market share has gradually improved, but only accounts for a low market share in total US imports, therefore, Vietnam's rubber still has a lot of potential for export to this market. It is forecast that Vietnam's rubber exports to the United States will be better in 2024.

In the first 4 months of 2024, Vietnam mainly exports natural rubber to the United States. Of these, Latex is the most exported category, accounting for 31% of the total volume of rubber exported to the United States with 2.31 thousand tons, worth USD 2.89 million, a decrease of 7.3% in volume, but an increase of 12.3% in value compared to the same period in 2023.

Ranked second is the SVR 3L type, accounting for 26.54% of the total rubber exported to the United States with 1.98 thousand tons, worth USD 3.35 million, an increase of 106.67% in volume and an increase of 125.7% in value compared to the same period in 2023.

Ranked third, SVR CV60 accounted for 26.42% of the total rubber exported to the United States with 1.97 thousand tons, worth USD 3.35 million, a decrease of 5% in volume, but an increase of 5.4% in value compared to with the same period in 2023.

In addition, in the first four months of 2023, the export volume and value of several types of rubber to the United States also increased sharply compared to the same period in 2023 such as: RSS1, SVR 5; meanwhile, exports of some types such as: SVR CV50, RSS3, SVR 10 decreased sharply compared to the same period in 2023.

Regarding export prices, in the first four months of 2024, the average export price of all types of rubber to the United States increased compared to the same period in 2023, of which the strongest increase was RSS1, which increased by 24.1%; Latex increased by 21.1%; SVR 5 increased by 16.7%; RSS3 increased by 11.3%; SVR CV60 increased by 11%, etc.

Kylie Nguyen