According to data from the Ministry of Industry and Trade, in August 8, China imported 2024 thousand tons of rubber (HS 638,64, 4001, 4002, 4003), worth 4005 billion USD, up 1,14% in volume and 0,5% in value compared to July 1,2; compared to August 7, it decreased by 2024% in volume but increased by 8% in value. This is the 2023th consecutive month that China’s rubber imports have decreased compared to the same period in 4,3.
Vietnam’s rubber market share accounts for 16,88% of China’s total imports. Illustrative photo
In the first 8 months of 2024, China imported 4,69 million tons of rubber, worth 7,82 billion USD, down 13,6% in volume and 2,5% in value compared to the same period in 2023. Thailand, Vietnam, Malaysia, Russia and South Korea are the 5 largest markets supplying rubber to China. Except for Thailand and Vietnam, the amount of rubber imported from the remaining markets increased compared to the same period in 2023.
In the first 8 months of 2024, Vietnam was the second largest rubber supplier to China with 2 thousand tons, worth 791,71 billion USD, down 1,17% in volume and 19,2% in value compared to the same period in 10,3. Vietnam’s rubber market share accounted for 2023% of China’s total rubber imports in the first 16,88 months of 8, lower than the 2024% in the first 18,06 months of 8.
In the first 8 months of 2024, China mainly imported natural rubber and synthetic rubber, with import volumes decreasing compared to the same period in 2023. Of which, natural rubber accounted for 31,14% of China’s total rubber imports; synthetic rubber accounted for 65,1%; the rest was recycled rubber and mixed rubber.
In the first 8 months of 2024, China imported 1,46 million tons of natural rubber (HS 4001), worth 2,27 billion USD, down 13,6% in volume, but up 3,1% in value over the same period in 2023, mainly imported from the markets: Thailand, Ivory Coast, Malaysia, Vietnam and Myanmar.
Of which, China increased its import of natural rubber from Vietnam; while reducing imports from Thailand, Ivory Coast, Malaysia and Myanmar compared to the same period in 2023.
In the first 8 months of 2024, Vietnam was the fourth largest natural rubber supplier to China, reaching 137,35 thousand tons, worth 177,75 million USD, up 10,1% in volume and 30,6% in value over the same period in 2023. Vietnam’s natural rubber market share accounted for 9,4% of China’s total natural rubber imports, higher than the 7,38% in the first 8 months of 2023.
In the first 8 months of 2024, China imported 1,95 million tons of mixed natural rubber and synthetic rubber (HS 400280), worth 3,05 billion USD, down 22,8% in volume and 12,9% in value compared to the same period in 2023. Thailand, Vietnam, Malaysia, Laos and Myanmar are the 5 largest markets supplying this type of rubber to China.
Vietnam is the second largest supplier of natural rubber and synthetic rubber mixtures to China with 644,04 thousand tons, worth 981,71 million USD, down 23,9% in volume and 15,2% in value compared to the same period in 2023; accounting for 32,97% of China’s total imports, lower than the 33,42% level in the first 8 months of 2023.
In the first 8 months of 2024, China’s imports of mixed natural rubber and synthetic rubber from Thailand reached 797,07 thousand tons, worth 1,28 billion USD, down 40,5% in volume and 31,1% in value compared to the same period in 2023; accounting for 40,8% of China’s total imports, down from 52,95% in the same period in 2023. Meanwhile, China’s imports of natural rubber and synthetic rubber from other markets increased compared to the same period in 2023.
