Vietnam remains 11th largest rubber supplier to US market

24/8/2021| 11:45

The nation was the 11th largest rubber supplier to the United States, with 21,010 tonnes of rubber worth US$37.14 million exported during the first half of the year, an annual rise of 54.4% in volume and 81.8% in value, according to the Ministry of Industry and Trade.

Vietnamese rubber’s market share as part of the US’ total rubber imports accounted for 2.3% during the first half of the year, representing a rise compared to the figure of 1.6% recorded during the first half of last year.

Statistics released by the US International Trade Commission indicate that the US imported 912,350 tonnes of rubber worth US$1.81 billion, marking a rise of 3.6% in volume and 16.5% in value against the same period from last year.

Indonesia, Thailand, Canada, the Republic of Korea, and the Ivory Coast made up the five largest suppliers of rubber to the US.

Vietnam represented the fourth largest supplier of natural rubber to the US with 20,950 tonnes worth US$36.93 million, up 54.2% in volume and 82.3% in volume.

According to a report compiled by Freedonia Focus Reports, the US’ demand for rubber is forecast to grow by nearly 1.1% per year until 2023.