China’s surging demand for raw rubber materials has driven a significant rise in Vietnam’s rubber export value, making the country China’s second-largest rubber supplier in early 2021.
According to the Import–Export Department (Ministry of Industry and Trade), citing data from China Customs, during the first four months of 2021, China imported rubber (HS codes: 4001, 4002, 4003, 4005) worth USD 4.25 billion, up 27.5% compared with the same period in 2020.
The top five rubber suppliers to China were Thailand, Vietnam, Malaysia, South Korea, and Japan.
Vietnam’s Exports to China Surge Over 80%
Vietnam ranked second among suppliers, exporting USD 705.64 million worth of rubber to China — an 81.6% increaseyear-on-year.
Specifically, Vietnam’s exports of mixed natural and synthetic rubber to China accounted for 99.53% of the country’s total exports of that product group, reaching 283,740 tons valued at USD 456.58 million, up 88.8% in volume and 118.3% in value over the same period in 2020.
Vietnam’s market share in China’s total rubber import value rose to 16.6%, compared with 11.65% in the first four months of 2020 — a sharp and notable increase.
Market Context and Export Performance
As of June 11, rubber prices on major Asian exchanges (including Japan and China) remained under pressure, showing a downward trend. However, Vietnam’s rubber exports to China continued to rise steadily, driven by strong demand and favorable logistics connections.
Overall, in the first four months of 2021, most Vietnamese rubber grades recorded significant growth in both volume and export value compared to the previous year. Notably, categories such as Latex, RSS1, synthetic rubber, SVR 10, RSS3, and SVR 3L all saw sharp increases.
Export Prices Maintain Upward Momentum
Average export prices for most rubber types also increased year-on-year, except for synthetic rubber and reclaimed rubber, which experienced slight declines.
Key categories with strong price growth included:
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RSS1: +34.9%
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Latex: +32.6%
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RSS3: +29.8%
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SVR CV60: +27.9%
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SVR 3L: +26.4%
These figures underscore Vietnam’s competitive position in the Chinese market, as both volume and value surged, supported by rising global rubber prices and strong industrial demand in China’s automotive and manufacturing sectors.