KUCHING: Total Malaysian rubber product export value hit a new high of RM15.2 billion in 2014, according to the Malaysian Rubber Export Promotion Council (MREPC) yesterday, despite lower prices for rubber and lacklustre global economic growth.
Exports were up 3.3 per cent year-on-year from RM14.7 billion recorded in 2013, the highest rate of growth in the last three years, the council said in a press release yesterday.
“Strong export performance in three categories, namely general rubber goods, industrial rubber goods and tires, contributed to the growth in exports of rubber products in 2014,” it explained.
“Exports of general rubber goods grew by 19.1 per cent to exceed RM1 billion for the first time.
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Exports of industrial rubber goods increased 13.8 per cent while tire products grew at 21.8 per cent in 2014, year-on-year.”
The latex sector remained the largest contributor to Malaysian exports of rubber products, reaching an all-time high of RM12.2 billion in 2014.
Rubber gloves continued to contribute significantly to total exports of rubber products, reaching RM10.7 billion in export value or 71 per cent of the total value of all rubber products exported.
Significant increases were registered for exports to the Russian Federation (22 per cent), Argentina (37 per cent) and India (26 per cent).
The market for rubber gloves continued to be dominated by the US and EU28, which together accounted for 62 per cent of the total exports of rubber gloves from Malaysia in 2014.
Exports of rubber catheters registered an impressive growth of 35 per cent from RM317 million in 2013 to RM428 million in 2014.
Sharp increases in exports to major markets such as Japan (55 per cent), Australia (81 per cent), China (24 per cent) and United Kingdom (25 per cent) contributed significantly to the growth in catheter exports in 2010.
Exports of dry rubber products grew at 15 per cent to reach RM3 billion, from RM2.6 billion in 2013.
Tires and rubber hoses were the two main export items, together accounting for 51 prt vrny of total exports of dry rubber products from Malaysia in 2014.
Exports of rubber tires reached RM986 million, a growth of 21.8 per cent year-on-year.
Exports of rubber hoses also recorded significant growth, by 20 per cent from RM435 million in 2013 to RM520 million in 2014.
The dry rubber sector also witnessed exceptional growth in exports of pre-cured treads (130 per cent), automotive parts and accessories (109 per cent), transmission belts (48 per cent) and structural bearings (23 per cent).
The Malaysian rubber product industry is well-placed to take advantage of growing demand, with manufacturers having capability to meet stringent market requirements, particularly in rubber medical products, while manufacturing capacity is being continuously increased.
“In view of rising demand for rubber products in developing markets, MREPC has strengthened its efforts to reach these areas through participation in trade shows, advertising, international seminars and specialised marketing missions to increase awareness of the capability of Malaysian rubber product manufacturing industry”, said Low Yoke Kiew, CEO of MREPC.
“It is significant to note the growth in exports in the dry rubber sector.
MREPC over the years has been working with the industry to aggressively promote dry rubber products such as rubber automotive components and engineered rubber products to the US and Europe as well as to China, India and other new and emerging markets, with strong support from the Ministry of Plantation Industry and Commodities.
“In 2015 and beyond, these promotional efforts will be enhanced for dry rubber products and rubber medical devices to major targeted export destinations,” added Low.
– theborneopost.com
