According to the Vietnam Rubber Group (VRG), the export of 96 products from 33 factories by these enterprises demonstrates the increasing credibility of the brand.

Tran Ngoc Thuan, Chairman of VRG Board of Directors, Vietnam’s total rubber export turnover reached an estimated USD 8 billion in the first 11 months of 2023, with the largest share held by rubber products, with nearly USD 3.9 billion. Following closely, natural rubber was estimated at around USD 2.5 billion, and rubber wood with over USD 1.8 billion.

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Workers of Lai Chau II Rubber JSC tap rubber latex.

The Association of Natural Rubber Producing Countries (ANRPC) has predicted that the global production of natural rubber in 2023 is projected to reach 14.927 million tons, up 2.3% year-on-year. Meanwhile, the consumption is anticipated to be 15.575 million tons, reflecting a 0.2% growth compared to 2022.

The Ministry of Agriculture and Rural Development reported that the Vietnam Rubber Association has developed a project on building and developing Vietnam's rubber brand in 2015 - 2020 with a vision to 2030, which aims to position the brand and image of Vietnamese rubber, thus creating confidence among customers.

Source: VNA