(13th Congress) – Vietnam exported 1.51 million tons of rubber in the Jan-November period of 2020, worth USD1.99 billion, up 0.4% in volume but down 1.4% in value, VOV News quoted figures of the Import and Export Department.
Rubber export bags USD1.99 billion in 11 months
November alone saw rubber exports increase by 15.8% to USD303 million.
Currently, the average export price throughout the reviewed period fell by 1.8%, to USD1,324 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 USD2.12 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 USD25.71 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./.
BTA