Ample room remains for Vietnamese rubber exports to US
Although Vietnam’s rubber market share in the US remains modest, the potential for the export of the product to the North American country is huge, according to the Agency of Foreign Trade (AFT) under the Ministry of Industry and Trade.
Rubber processing at a factory of Phu Rieng company. (Photo: VNA)
Hanoi (VNA) – Although Vietnam’s rubber market share in the US remains modest, the potential for the export of the product to the North American country is huge, according to the Agency of Foreign Trade (AFT) under the Ministry of Industry and Trade.
A report from the agency showed that the US was Vietnam’s 10th largest rubber buyer last month. In April alone, Vietnam exported nearly 1,090 tonnes of rubber valued at 1.87 million USD to the US, marking an increase of 0.3% in volume and 17.5% in value compared to the same period last year, the agency said, citing statistics from the General Department of Customs.
The country shipped nearly 7,460 tonnes of rubber worth 11.7 million USD in the first four months of 2024, up 37.1% in volume and 58.2% in value year-on-year.
Industry experts said that Vietnam’s rubber exports to the US is expected to bounce back this year.
According to the AFT, Vietnam's rubber exports to this potential market in the reviewed period were mainly natural rubber. Among them, latex accounted for 31% of the total rubber exports with 2,310 tonnes worth 2.89 million USD, down 7.3% in volume but up 12.3% in value.
During the reviewed period, the export volume and value of some types of rubber to the US also increased sharply compared to the corresponding period last year.
Statistics released by the US International Trade Commission showed that in the first three months of this year, the US imported 443,120 tonnes of rubber worth 893.4 million USD, up 0.2% in volume, but down 3% in value year-on-year.
Indonesia, Thailand, Canada, the Republic ♛of Korea, and the Ivory Coast🍸 were the five largest rubber suppliers to the US during the period./.
Vietnam shipped 110,000 tonnes of rubber abroad last month, earning more than 160 million USD, according to the Ministry of Agriculture and Rural Development (MARD).
The Ministry of Agriculture and Rural Development is aiming for Vietnam’s total rubber plantation area to reach some 800,000 - 850,000 ha by 2030, with 100% of rubber latex and wood to obtain planting area codes for product origin traceability.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
