Vietnam's rubber export market share to China increases in 2021

According to the General Administration of Customs of China, in 2021, China's rubber import turnover reached US$ 12.56 billion, up 14.8% compared to 2020.

Thailand, Vietnam, Malaysia, Korea, and Japan are China's five largest rubber markets.

In 2021, Vietnam was the second-largest rubber supplier to China, reaching US$ 2.28 billion, up 27.8% compared to 2020. Vietnamese rubber in China's total import turnover in 2021 accounted for 18.2%, up from 16.3% in 2020.

China is the largest importer of natural rubber and synthetic rubber mixture. China's import turnover of this product group in 2021 reached US$ 4.49 billion, down 5.9% compared to 2020.

China's total import turnover of a mixture of natural rubber and synthetic rubber in 2021 decreased, but imported from Vietnam increased sharply, reaching US$ 1.77 billion.

Specifically, a mixture of natural rubber and synthetic rubber of Vietnam accounted for 39.5% of the total import turnover of China's natural rubber and synthetic rubber mixtures, a sharp increase compared to 31. 8% of 2020. Vietnam is the second-largest supplier of natural rubber and synthetic rubber to China.

Vietnam also is the fifth-largest supplier of natural rubber to China in 2021, with a turnover of US$ 257.58 million, up 1.2% compared to 2020. In 2021, China imported US$ 3.86 billion of natural rubber, up 25.4% compared to 2020.

Vietnam's natural rubber market share currently accounts for 6.7% of China's total imports, down from 8.3% in 2020.