Despite COVID-19, Vietnam still maintains stable market share of rubber exports to the US

Export rubber of Vietnam

The Ministry of Industry and Trade of Vietnam cited the statistics of the US International Trade Commission, saying that in the first 6 months of 2020, the US imported more than 881,000 tons of rubber (HS codes: 4001, 4002, 4003, 4005), value USD 1, 56 billion, down 15% in volume and 18.8% in value over the same period in 2019.

In which, Indonesia, Thailand and Canada are the three largest markets supplying rubber to the US. Vietnam is the 14th largest rubber supplier to the US, reaching 13,600 tons, worth USD 20.42 million, down 11.7% in volume, but up 2.8% in value over the same period in 2019.

The market share of Vietnamese rubber in total US imports in the first 6 months of 2020 is at 1.5%, stable compared to the first 6 months of 2019.

In the first 6 months of 2020, imports of natural rubber (HS code 4001) of the US reached 461,330 tons, worth USD 695.31 million, down 13.7% in volume and 10.5% in value compared to same period in 2019.

Indonesia, Thailand, Côte d'Ivoire, Liberia and Vietnam are the 5 largest natural rubber suppliers to the US in the first 6 months of 2020.

In particular, Vietnam is the 5th largest natural rubber supplier to the US, reaching 13,580 tons, worth USD 20.25 million, down 11.6% in volume, but up 2.8% in value compared to other markets. With the same period in 2019, Vietnam's market share of natural rubber in the total US imports accounted for 2.9%, stable compared to the first 6 months of 2019.

This time, the US imported 309,460 tons of synthetic rubber (HS code 4002), worth USD 624.53 million, down 15.8% in volume and 24.4% in value compared to the same period in 2019.

Korea, Germany, Japan, Mexico and France are the 5 largest synthetic rubber supply markets for the US in the first 6 months of 2020.

The structure of the synthetic rubber supply market to the US in the first 6 months of 2020 has changed when the market share of synthetic rubber from Mexico and France in the total US imports increased; while the market share of Korea, Germany, Japan, and Russia decreased.

Phaata (Adapted from Nhu Huynh / Economy-Consumption)