A local farmer taps a rubber tree in Phuket. (Photo: https://www.bangkokpost.com/) Bangkok (VNA) - Thailand's rubber product exports are expected to fetch 359 billion baht (11.35 billion USD) in 2020, 3.19 percent higher than last year, according to Thai Commerce Minister Jurin Laksanawisit.
Speaking after a meeting on October 1 with the International Trade Promotion Department, Rubber Authority of Thailand and rubber cooperatives, Jurin said Thailand is likely to see higher shipments of rubber because of rising demand for rubber gloves and auto tyres, as well as the government's proactive approach to promote rubber exports.
Meanwhile, the country’s natural rubber shipments are expected to drop by 5 percent to 122 billion baht by year-end.
Jurin said global demand for rubber gloves and auto tyres keeps rising significantly because of the global economic recovery after lockdown measures to curb the COVID-19 pandemic are being relaxed.
In the first eight months of 2020, shipments of rubber products rose 2.32 percent year-on-year to 235 billion baht, while natural rubber exports decreased by 28.7 percent to 65.7 billion baht.
Thailand is the world's largest producer of natural rubber, making 4.8 million tonnes last year, with exports accounting for almost 4 million tonnes.
In 2019, Thailand raked in 11.2 billion USD from exporting rubber products and processed rubber./.
VNA
