Vietnam's rubber exports witness growth in 2024

HANOI, Dec. 18 (Xinhua) -- All 15 top export markets of Vietnamese rubber saw growth in values in 2024, with Malaysia recording the highest increase, expanding fivefold, Vietnam News cited the Vietnam Rubber Association as reporting on Wednesday.

China remained Vietnam's largest export market for rubber, accounting for 67.6 percent of the total market share, said the association.

According to the association, Vietnam predominantly exports natural rubber blends and semi-processed products to China, with deeply processed rubber contributing minimally.

Other key markets are India (7.7 percent), the European Union (6 percent) and South Korea (2.5 percent).

In the first 11 months of 2024, Vietnam's rubber export witnessed a 6 percent decline in volume but a 17.1 percent surge in value compared to the same period in 2023.