Vietnam's rubber exports reach 1.7 billion USD in eight months
Vietnam’s rubber exports topped 1.7 billion USD in the first eight months of 2024, statistics show.
A worker extracts rubber latex. Vietnam exported about 1.12 million tonnes of rubber worth 1.76 billion USD during the first eight months of 2024. (Photo: VNA)
Hanoi (VNS/VNA) – Vietnam’s rubber exports topped 1.7 billion USD in the first eight months of 2024, statistics show.
With this result, the whole year's turnover is forecast to hit 3 - 3.5 billion USD, equivalent to an increase of 200 - 400 million USD compared to last year.
The export volume stood at 209,726 tonnes in August to bring home nearly 345 million USD, up 12.7% in volume and 12% in value compared to the previous month, according to the General Department of Customs.
The average export price was 1,637 USD per tonne, falling about 1.1% month-on-month but rising some 26.8% year-on-year.
During the first eight months, about 1.12 million tonnes of rubber worth 1.76 billion USD was shipped abroad, down 7.2% in volume but up 8.4% in value year-on-year.
The country currently has a latex output of 1.3 million tonnes per year from 910,000 hectares of rubber plantations, reported the Vietnam Rubber Association.
ꦜ Every year, more than 300,000 tonnes of rubber are used in processing and manufacturing, leaving a large amount of raw material for export. This has opened up considerable export potential for the local industry, especially in the context of possible global supply shortages in the 2024 - 2025 period./.
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