Although the COVID-19 epidemic has affected many economies, according to the Import-Export Department (Ministry of Industry and Trade), in the first eight months of 2021, Vietnam’s rubber exports to the US increased by 92.3% in volume and 144 in volume. .6% in value over the same period in 2020; the average export price reached 1,740 USD/ton, up 27.2% over the same period in 2020.
Based on this result, trade experts forecast that rubber exports to the US will continue to increase in the last months of 2021.
According to the Import-Export Department, among these types of latex are exported the most to the US, accounting for 32.7% of the total amount of rubber exported to the US in the first 8 months of 2021, with 8.53 thousand tons, worth 8.53 thousand tons, price of 10.93 million USD, up 167.1 percent in volume and 248.7 percent in value over the same period in 2020.
Along with that, the average export price reached $1,280/ton, up 30.6% over the same period in 2020. In general, in the first 8 months of 2021, most of the rubber products exported to the United States were exported to the United States. achieved strong growth in both volume and value over the same period in 2020; in which, notably SVR 10 increased 322.7 % in volume and 474.4% in value; RSS1 increased by 149.7% in volume and 165.3% in value…
Notably, the average export prices of all kinds of rubber to the US in the first eight months of 2021 increased sharply compared to the same period in 2020; in which, RSS3 increased by 52.1%, RSS1 increased by 47.1%, SVR 10 increased by 35.9%; SVR CV50 up 30.1%…
According to experts, the US economy is gradually recovering, US rubber demand is forecasted to continue to grow until 2023, thanks to an increase in demand for rubber products.
Moreover, increased demand along with climate change and supply chain disruptions due to the impact of the COVID-19 epidemic are issues of concern to the US rubber and rubber tire industry at the moment. Therefore, it is forecasted that rubber exports to the US will continue to increase in the last months of the year.