Rubber Exports to the United States Increase in Both Volume and Value

In April 2024, the United States ranked as the 10th largest export market for Vietnamese rubber. Both export volume and export value to the U.S. increased compared with the same period in 2023.

Cumulatively, during the first four months of 2024, Vietnam exported nearly 7.46 thousand metric tons of rubber to the United States, valued at approximately USD 11.7 million. This represents a year-on-year increase of 37.1% in export volume and 58.2% in export value, highlighting the growing demand for Vietnamese rubber in the U.S. market.

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• According to the Vietnam Trade Agency under the Ministry of Industry and Trade, citing statistics from the General Department of Vietnam Customs, the United States was Vietnam’s 10th largest export market for rubber in April 2024. Vietnam exported nearly 1.09 thousand metric tons of rubber to the U.S., valued at approximately USD 1.87 million, representing an increase of 0.3% in export volume and 17.5% in export value compared with April 2023.

• Cumulatively, during the first four months of 2024, Vietnam’s rubber exports to the United States reached nearly 7.46 thousand metric tons, with a total export value of USD 11.7 million. Compared with the same period in 2023, export volume increased by 37.1%, while export value increased by 58.2%.

 

 

• In terms of product categories, Vietnam’s rubber exports to the United States during the first four months of 2024 consisted primarily of natural rubber.

• Regarding export prices, the average export prices of all major rubber grades shipped to the U.S. increased compared with the same period in 2023. Among them, RSS1 recorded the highest increase of 24.1%, followed by Latex at 21.1%, SVR 5 at 16.7%, RSS3 at 11.3%, and SVR CV60 at 11.0%.

• According to the Vietnam Trade Agency, rubber exports to the United States have gradually recovered in recent years. Vietnam’s share of the U.S. rubber import market has also improved, although it still accounts for only a small portion of the country’s total rubber imports. This indicates significant potential for further expanding Vietnam’s rubber exports to the U.S. market. The agency expects Vietnam’s rubber exports to the United States to perform more positively throughout 2024.

  Source: Ngoc Linh, Vietnam Customs Magazine Online.