Vietnam's rubber exports reach 1.7 billion USD in eight months

Vietnam’s rubber exports topped 1.7 billion USD in the first eight months of 2024, statistics show.

A worker extracts rubber latex. Vietnam exported about 1.12 million tonnes of rubber worth 1.76 billion USD during the first eight months of 2024. (Photo: VNA)
A worker extracts rubber latex. Vietnam exported about 1.12 million tonnes of rubber worth 1.76 billion USD during the first eight months of 2024. (Photo: VNA)

Hanoi (VNS/VNA) – Vietnam’s rubber exports topped 1.7 billion USD in the first eight months of 2024, statistics show.

With this result, the whole year's turnover is forecast to hit 3 - 3.5 billion USD, equivalent to an increase of 200 - 400 million USD compared to last year.

The export volume stood at 209,726 tonnes in August to bring home nearly 345 million USD, up 12.7% in volume and 12% in value compared to the previous month, according to the General Department of Customs.

The average export price was 1,637 USD per tonne, falling about 1.1% month-on-month but rising some 26.8% year-on-year.

During the first eight months, about 1.12 million tonnes of rubber worth 1.76 billion USD was shipped abroad, down 7.2% in volume but up 8.4% in value year-on-year.

The country currently has a latex output of 1.3 million tonnes per year from 910,000 hectares of rubber plantations, reported the Vietnam Rubber Association.

Every year, more than 300,000 tonnes of rubber are used in processing and manufacturing, leaving a large amount of raw material for export. This has opened up considerable export potential for the local industry, especially in the context of possible global supply shortages in the 2024 - 2025 period./.

VNA

See more

At the opening ceremony of HortEx Vietnam 2025 (Photo: VNA)

HCM City HortEx showcases agricultural technologies, smart farming

HortEx Vietnam 2025 also serves as a gathering place for businesses, cooperatives, and agricultural producers from more than 16 provinces and cities across Vietnam, providing an excellent opportunity for local enterprises to exchange knowledge, learn from international experience, access new technologies, and expand their markets.

Hyundai Accent remains the best-selling model, with 455 units delivered to customers in February. (Photo: VNA)

Hyundai auto sales remain stable in February

In February, Hyundai Accent remained the best-selling model, with 455 units delivered to customers. It was followed by Hyundai Tucson with 403 units, Hyundai Stargazer with 304 cars, and Hyundai Creta with 303 vehicles.

Prime Minister Pham Minh Chinh speaks at the second meeting of the National Steering Committee for Financial Inclusion in Hanoi on March 12. (Photo: VNA)

PM requests stronger efforts to ensure comprehensive, equitable financial access

PM Pham Minh Chinh, who is also head of the steering committee, highlighted the significance of the strategy for the country's socio-economic development, saying that it enables individuals and businesses to access essential financial resources and services for development, improving living standards of the people, and promoting savings and investment.

Manufacturing toys for export at Bilion Max Vietnam Export Processing Co. Ltd. in Hue city. (Photo: VNA)

Vietnam’s economy poised to grow 6.8% this year: WB

“Vietnam is projected to maintain robust economic growth over the next two years, but it can use its fiscal space to better prepare for heightened uncertainties”, said Mariam J. Sherman, World Bank Director for Vietnam, Cambodia and Laos at a press conference.

A shopping mall in HCM City. The retail property market in HCM City is expected to see further growth this year. (Photo: gkg.com.vn)

HCM City retail property market expected to heat up

In 2025, the commercial real estate market, especially in HCM City, is forecast to undergo significant positive changes, with an improved supply. It can be said that this segment will "transform" to recover for a new growth cycle.

Illustrative image (Photo: VNA)

Measures needed to boost business optimism: VCCI

According to the Ministry of Planning and Investment, there are currently 940,000 active enterprises, falling short of the target of one million by 2020 and 1.5 million by the end of the year.

Site clearance has been completed for the Metro Line No.2 project. (Photo: sggp.org.vn)

HCM City to use municipal budget for Metro Line No. 2 project

The Metro Line No. 2 project has an estimated investment of nearly 47.9 trillion VND (2 billion USD) and has nearly completed land clearance, at 99.8%. The NA’s Resolution 188 authorises HCM City to develop seven metro lines spanning 355 kilometres over the next decade, with preliminary total investment for the 2025-2035 phase estimated at 40.2 billion USD.