In 11 months of 2024, Vietnam has exported 36 items, including rubber, with a turnover exceeding 1 billion USD.
According to data from the General Department of Customs, in November 2024, Vietnam’s rubber exports reached 230.57 thousand tons, with a value of 441.26 million USD. Compared to November 2023, the volume decreased by 9%, but the value increased by 26.6%. November also recorded the highest export price since the beginning of the year, reaching 1,914 USD/ton, an increase of 39.1% compared to November 2023.
In 11 months of 2024, rubber exports reached 1.77 million tons, worth over 2.96 billion USD, down 5.4% in volume but up 17.8% in value compared to the same period last year. The average export price of rubber was 1,674 USD/ton, an increase of 24.6% compared to the same period in 2023.
Vietnam’s rubber is now present in more than 80 countries and territories, with major export markets including China, India, the US, the EU, South Korea, and Japan.
Vietnam’s rubber is now present in more than 80 countries and territories.
In 11 months of the year, China remained the largest rubber export market, accounting for over 79% of Vietnam’s total rubber exports, reaching 1.25 million tons of rubber, worth 2.07 billion USD. This is a decrease of 15.5% in volume but an increase of 5.5% in value compared to the same period in 2023.
The data shows that in 11 months of 2024, there has been a significant move in the rubber export market. While rubber exports to China, South Korea, the Netherlands, and Argentina decreased compared to the same period in 2023, an increase in exports was recorded to many other markets such as India, the US, Germany, and Spain.
Notably, rubber exports to Malaysia continued to increase significantly compared to the same period last year, reaching 4.92 thousand tons, worth 7.83 million USD. Compared to November 2023, there was a growth of 466.2% in volume and 559.8% in value. This is the third consecutive month that the volume of rubber exported to Malaysia has sharply increased compared to the same period in 2023.
In 11 months of 2024, Vietnam exported 29.73 thousand tons of rubber to Malaysia, worth 43.01 million USD. This is an increase of 365.3% in volume and 427.2% in value compared to the same period in 2023.
The rubber industry has faced numerous challenges this year. One of the major challenges is the EU’s deforestation regulation, which requires imported products, including rubber, to clearly demonstrate their origin and comply with environmental protection standards.
However, the rubber area in Vietnam certified for sustainable forest management has reached 123.66 thousand ha. It shows that Vietnamese rubber enterprises are active in adapting to global sustainable development regulations and standards.
2025 is expected to be a year of stronger development for the Vietnamese rubber industry. It is forecast that the total export turnover of the industry will reach over 11 billion USD, growing by approximately 10% compared to 2024.