Vietnam's Rubber Industry Achieves Record $10.2 Billion in Export Value

The global rubber supply shortage has significantly impacted global trade, driving prices upward and leading Vietnam's natural rubber export value to a record $3.4 billion in 2024. This, combined with exports of rubber products and rubberwood, propelled the total export value of the industry to $10.2 billion. Vietnam exported approximately 2 million tons of rubber in 2024, an 18.2% increase in value compared to 2023. China remains the primary importer of Vietnamese rubber, accounting for 71% of the total export value. The average export price of rubber also saw a substantial increase, reaching $1,701/ton, a 26% rise compared to 2023. This price surge is attributed to the global supply deficit and increased demand, especially from China's recovering economy. While the industry celebrates this record achievement, Vietnamese rubber producers are preparing for the upcoming EU Deforestation Regulation (EUDR), ensuring compliance with international market requirements for sustainable agricultural products.