The Vietnam Rubber Association (VRA) forecasts that the country's rubber export will hit $11 billion in 2025, marking a yearly growth rate of 10%. Rubber prices in the world market are increasing sharply, which helps rubber companies gain positive growth in revenue and profits. Vietnam's rubber industry is embracing a promising development prospect.
Specifically, in January this year, Vietnam exported about 180,000 tonnes of rubber worth $341 million, a 14.5% decrease in volume and a 14.6% increase in value year-on-year. This growth is mainly due to the soaring rubber prices. The average export price in January was estimated at $1,892 per tonne, 34% higher than that of the same period last year.
Looking back at 2024, Vietnam's rubber exports also showed a remarkable performance. The annual export volume was about 2 million tonnes, and the export value reached as high as $3.42 billion. This achievement not only surpassed the previous record high of $3.3 billion in 2022 but also further demonstrated Vietnam's important position in the global rubber market.
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