Business

Vietnam – fourth biggest rubber supplier of RoK

Vietnam was the Republic of Korea (RoK)’s fourth largest supplier of rubber in the first two months of 2023, according to the Import-Export Department under the Ministry of Industry and Trade.
Vietnam – fourth biggest rubber supplier of RoK ảnh 1Vietnam is the fourth biggest rubber supplier of RoK in the first two months of 2023 (Photo: congthuong.vn)
Hanoi (VNA) –Vietnam was the Republic of Korea (RoK)’s fourth largest supplier of rubber inthe first two months of 2023, according to the Import-Export Department underthe Ministry of Industry and Trade.

The department citeddata from the General Administration of Vietnam Customs showing that in theJanuary-February period, Vietnam exported 5,080 tonnes of rubber to the RoKfor 8.02 million USD. The figures represented a drop of 16.5% in volume and29.6% in value over the same period last year.

In the first two months of 2023, Vietnammostly exported to the RoK natural rubbers in various type, including SVR CV60(39.35% of total export volume), SVR 10 (29.83%), and SVR 3L (22.01%).

Meanwhile, statistics from the RoK’s Customs,in the reviewed period, the RoK imported 85.23 trillion tonnes ofrubber worth 162.88 million USD, mainly from Thailand, Indonesia, China,Vietnam and the Philippines.

In the period, the market share of Vietnamin the market was only 5.51%, down from 9.77% recorded in the same time lastyear. Meanwhile, upturn was seen in the market shares of Indonesia, China, thePhilippines, Cambodia and Singapore.

The Import-Export Department advised domestic firms to diversify itsproducts to better meet demand of the RoK, thus strengthening exports tothis market./.
VNA
#Republic of Korea (RoK) #Import-Export Department #General Administration of Vietnam Customs #natural rubbers #Vietnam #Vietnam news #Vietnam News Agency
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