Vietnam's rubbers exports turn over is the lowest in 2 years

DNHN - Vietnam exported rubber at an average price of $1,388 per ton in April 2023, down 1.9% from March 2023 and 23.1% from April 2022. The General Department of Customs reports that Vietnam exported 87,749 tonnes of rubber worth 121,79 million USD

The General Department of Customs reports that Vietnam exported 87,749 tonnes of rubber worth 121,79 million USD in April 2023, a decrease of 24.3% in volume and 25.0% in value compared to March 2023. Compared to April 2022, the volume increased by 12% while the value decreased by 13.9%. This is the month with the lowest value since April 2021.

Vietnam exported 469,632 tonnes of rubber totaling $653,22 million in the first four months of 2023, a decrease of 3.2% in volume and 23.7% in value compared to the same period in 2022 due to lower export prices. In recent months, rubber exports have sharply decreased consistently.

Vietnam exported rubber at an average price of $1,388 per tonne in April 2023, down 1.9% from March 2023 and 23.1% from April 2022.

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Illustration.

China remained Vietnam's largest rubber export market in April 2023, accounting for 73.16 percent of Vietnam's total rubber exports. The average export price of rubber to China was $1,362/ton, a decrease of 1.3% from March 2023 and a decrease of 21.2% from April 2022.

Vietnam exported 356,818 tonnes of rubber to China in the first four months of 2023, totaling $484,46 million, an increase of 9.5% in volume but a decline of 13.8% in value compared to the same period in 2022.

In the first four months of 2023, the majority of rubber exports to markets decreased compared to the same period the previous year, as the purchasing power of the global market declined, particularly in large markets such as India, the United States, and Europe. However, the volume of exports to the Russian market increased significantly compared to the same period in 2022.

In the future, rubber exports will continue to face challenges due to the auto industry's exposure to high inflation and weak consumer demand, particularly in the United States and Europe. Nonetheless, China's rubber demand is gradually recovering, which will provide market support.

Ngoc Phi (TH)

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