Vietnam gains more than US$2b over 11 months from rubber exports

Exports of 1.5 tonnes of rubber between January and November 2019 have earned Vietnam a whopping US$2.02 billion; about 200,000 tonnes of rubber was exported in November alone, which brought in some US$260 million.

According to Vietnam’s Ministry of Agriculture and Rural Development (MARD), the rubber exports rose 7.6% in value and 8.1% in volume year on year, and about 11.3% and 16.2% from the same period last year. The ministry also reported that export price in that month grew by 4.5% year on year to US$1,300 per tonne.

To date, the nationwide rubber farming area covers around 965,000 ha, more than the initial 800,000 ha in 2011. With this, Vietnam aims to earn over US$2 billion from the export of natural rubber in 2020.