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Vietnam's rubber market share increases sharply in the Chinese market

10/10/2021

Vietnam's rubber imports into China increased sharply in the first eight months of this year, thereby significantly improving its market share in this market.

According to China Customs, in the first eight months of 2021, China's rubber imports reached USD 8.04 billion, an increase of 24% over the same period in 2020.

Thailand, Vietnam, Malaysia, South Korea and Japan are the five largest rubber supply markets for China.

In the first eight months of 2021, Vietnam is the second largest rubber supplier to China with USD 1.28 billion, an increase of 49.5% over the same period in 2020.

Vietnam's rubber market share in China's total import value in the first eight months of 2021 accounted for 15.9%, increased sharply from 13.2% in the first eight months of 2020.

Regarding the type of natural rubber, in the first eight months of the year, Vietnam was the fifth largest supply market for China with USD 148.88 million, an increase of 51.2% over the same period in 2020.

Vietnam's natural rubber market share accounts for 6.5% of China's total import value, increased from 6.4% in the first eight months of 2020.

Regarding the mixture of natural rubber and synthetic rubber, in the first eight months of 2021, Vietnam is the second largest supplier to China with USD 1.12 billion, an increase of 49.5% over the same period in 2020.

The market share of the mixture of natural rubber and synthetic rubber of Vietnam accounted for 35.6% of the total import value of natural rubber and synthetic rubber of China, a sharp increase from 24.8 % of the first eight months of 2020.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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