Rubber exports enjoy 15.8% surge during November

Friday, December 4, 2020  15:57

VOV.VN - Vietnam raked in 1.51 million tonnes of rubber worth US$1.99 billion during the opening 11 months of the year, representing an annual increase of 0.4% in volume and a decrease of 1.4% in value, with November seeing rubber exports soar by 15.8% to US$303 million, according to the Import and Export Department.

Currently, the average export price throughout the reviewed period fell by 1.8% to US$1,324 per tonne in comparison to the same period from last year.

With regard to export markets, statistics compiled by the United States International Trade Commission revealed that the US imported a total of 1.21 million tonnes of rubber worth US$2.12 billion during the initial nine months of the year, representing a fall of 19.6% in volume and 25.4% in value from last year’s corresponding period.

Throughout the reviewed period, Vietnam represented the 14th largest rubber supplier to the US, with the nation’s market share of total US rubber imports standing at 1.4%.

Furthermore, the country exported 17,620 tonnes of rubber worth US$25.71 million to the US, posting a year-on-year decline of 25% in volume and 17.6% in value.

According to experts, prospects for Vietnamese rubber exports to the US are largely dependent on the North American nation’s efforts to contain the novel coronavirus (COVID-19) pandemic and its economic recovery.