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Vietnam among largest rubber suppliers to RoK

Vietnam is currently the fourth largest rubber supplier to the Republic of Korea (RoK) after Thailand, Indonesia and China, according to the Import-Export Department under the Ministry of Industry and Trade.

The Import-Export Department quoted statistics from the General Department of Customs as saying, that Vietnam’s rubber exports to the RoK reached 12,470 tonnes worth 18.92 million USD in the first four months of 2023, up 5.6% in volume, but down 15% in value over the same period in 2022.

The average export price of rubber to this market was 1,517 USD per tonne, down 19.5% over the same period in 2022.

Vietnam’s rubber accounted for 5.88% of the RoK’s total rubber imports in four months, while the imports from Vietnam in the first four months of 2022 were 8.36%.

According to the RoK customs agency, Thailand, Indonesia, China, Vietnam and Japan are currently the five largest rubber suppliers to the RoK. However, the RoK increased imports from Indonesia and China but reduced imports from Thailand, Vietnam and Japan, compared to the same period in 2022.

Vietnam’s rubber market share is shrinking in the RoK market compared to the same period in 2022, while the rubber market share of Indonesia, China, the Philippines, Cambodia, and Germany, advanced over the corresponding period last year

Source: Nhan dan

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