According to the Chinese Customs Administration’s statistics quoted by the Ministry of Industry and Trade‘s Import-Export Department, in the 11 months, China’s rubber import turnover (coded HS 4001, 4002, 4003, 4005) reached 11.35 billion USD, up 16.2% year on year.
Thailand, Vietnam, Malaysia, the Republic of Korea and Japan are the 5 largest rubber suppliers to China. In the 11 months, Vietnam is the second largest rubber supplier to China, with a turnover of 2 billion USD, up 32.2% year on year.
Thailand, Vietnam, Malaysia, the Republic of Korea and Japan are the 5 largest rubber suppliers to China. (Photo: congthuong.vn)
Specifically, Vietnam is the fifth largest natural rubber supplier to the market, with a turnover of 218.87 million USD, up 6.7% compared to the same period last year. Vietnam’s natural rubber market share accounted for 6.4% of China’s total import value, lower than the 7.7% in the same period last year. During the period, China also increased natural rubber imports from Thailand, Malaysia and Ivory Coast.
Besides, China imported a mixture of natural rubber and synthetic rubber (coded HS: 400280), valued at 4.43 billion USD, up 2.3% year on year. During the period, Vietnam is the second largest supplier of natural rubber and synthetic rubber mixture to China with 1.77 billion USD, up 36.4%.
Vietnam’s natural and synthetic rubber mixture accounted for 40% of the market share, much higher than the 30% in the same period last year. China also increased import of the product from Myanmar and Laos; while reducing imports from Thailand, Malaysia and Indonesia./.