Malaysia's rubber exports top 15 billion USD in 2021

Illustrative image. (Photo: rubbernews.com)

Kuala Lumpur (VNA) – Malaysia’s rubber exports continued to record strong growth in 2021, climbing to 64.61 billion ringgit (about 15.5 billion USD), according to Khairuddin Rahim, Deputy Executive Director Malaysia Investment Development Authority (MIDA), adding that the figure was 25.84 billion and 43.64 billion ringgit, respectively, in 2019 and 2020.

According to Khairuddin, Malaysia's rubber industry is a typical example of industrialisation of high-quality rubber when supplying the world market with a wide range of products.

He attributes it to the availability of high-quality rubber raw materials, good infrastructure as well as effective support in research and development activities by the Malaysian Rubber Board (MRB) and the Tun Abdul Razak Research Centre (TARRC).

The official also said that Malaysian small and medium enterprises are looking for high-value, high-tech rubber products for engineering, construction and marine applications. Meanwhile, large companies mainly produce traditional tire and glove products such as Top Glove, Hartalega, Kossan, Supermax, Continental Tire, Toyo Tire and Goodyear.

Rubber products, tires and related items are part of Malaysia's long-standing rubber industry. Malaysia exports rubber products to more than 190 countries and territories around the world. Countries including the US, Germany and Japan alone accounted for more than 41 percent of Malaysia's total export turnover./.