Vietnam's rubber exports will rise in 2024, and the China market will perform well

On September 21, it was reported that in recent years, as an important player in global rubber exports, Vietnam has achieved significant expansion in its rubber export business thanks to strong demand from the automotive industry. Entering 2024, the continued high demand for rubber in the global market has paved the way for Vietnam rubber products to further explore the international market, indicating that its total rubber exports this year will show positive growth compared with last year.

According to the latest statistics, as of the end of August 2024, Vietnam's total rubber exports have successfully exceeded the 1.1 million tons mark, with the cumulative total export volume approaching US$1.8 billion. Although the export volume failed to achieve a significant jump compared with last year, the export volume achieved a steady growth of about 8%. This achievement was mainly due to the steady increase in rubber market prices.

According to the Carbon Black Industry Network, in terms of export market layout, China still firmly stands in an important position in Vietnam's rubber exports and plays an indispensable role. Looking to the future, industry experts predict that in the next few months, Vietnam's rubber exports to China will continue to maintain a steady growth trend, further consolidating the close cooperative relationship between the two countries in the field of rubber trade.