Vietnam maintains its 2nd rank in rubber exports to China

Vietnam’s rubber exports to China in 2020 reached 1.36 million tons, worth US$1.83 billion, up 17.3 percent in volume and 18.1 percent in value compared to 2019, according to the General Department of Vietnam Customs. 

Natural rubber mixture and synthetic rubber are the most exported to China, accounting for 83.32 percent of total quantity in 2020, equal to about 1.13 million tons and with the value of US$1.55 billion, up 23.7 percent in volume and 24.7 percent in value compared to 2019.

In 2020, some types of rubber exported to China achieved good growth in both volume and value compared to 2019. They notably are: latex, SVR 20, recycled rubber, synthetic rubber and SVR CV60 with each grossed an increase of 52.6 percent, 38.3 percent, 18.2 percent, 322.7 percent and 8.6 percent in volume respectively and 67.3 percent, 31.2 percent, 64.5 percent, 300.5% and 10.9 percent in value respectively.

Despite being affected by the Covid-19 pandemic, Vietnam's rubber exports to China in the past year achieved high growth compared to 2019, due to the rapid increase in Chinese rubber demands after local authorities in this country have stimulated the use of small cars, thereby spurring tire manufacturers to triple production.

Meanwhile, rubber production in China decreased due to major storms hitting Hainan Island and drought in Yunnan, which have caused effects on rubber tree planting.

Statistics of the Chinese Customs Service showed that in 2020, China's rubber imports reached US$10.94 billion, up 4.6 percent compared to 2019. Thailand, Vietnam, Malaysia, Indonesia and South Korea are the 5 biggest markets supplying rubber to China.

In 2020, Vietnam is the second-largest rubber supplier to China with US$1.78 billion (China Customs' statistics), an increase of 18.1 percent compared to 2019. Vietnam's rubber market share accounted for 16.29 percent of China's total import value, up from 14.43 percent of 2019.