December 06, 2020 | 18:56 (GMT+7)
Rubber exports enjoy 15.8% surge during November
Vietnam raked in 1.51 million tons of rubber worth USD 1.99 billion during the opening 11 months of the year, representing an annual increase of 0.4% in volume and a decrease of 1.4% in value, with November seeing rubber exports soar by 15.8% to USD 303 million, according to the Import and Export Department.
Currently, the average export price throughout the reviewed period fell by 1.8% to USD 1,324 per ton in comparison to the same period from last year.
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Rubber exports enjoy 15.8% surge during November. |
With regard to export markets, statistics compiled by the United States International Trade Commission revealed that the U.S. imported a total of 1.21 million tons of rubber worth USD 2.12 billion during the initial nine months of the year, representing a fall of 19.6% in volume and 25.4% in value from last year’s corresponding period.
Throughout the reviewed period, Vietnam represented the 14th largest rubber supplier to the U.S., with the nation’s market share of total U.S. rubber imports standing at 1.4%.
Furthermore, the country exported 17,620 tons of rubber worth USD 25.71 million to the U.S., posting a year-on-year decline of 25% in volume and 17.6% in value.
According to experts, prospects for Vietnamese rubber exports to the U.S. are largely dependent on the North American nation’s efforts to contain the novel coronavirus (COVID-19) pandemic and its economic recovery.
Source: VOV