Agriculture & Food

In the first seven months of 2021, Vietnam is the 11th largest supplier of rubber to the United States. Vietnam's rubber market share in total US imports has increased.

Citing data from the U.S. International Trade Commission, according to statistics from the Bureau of Import and Export, as of the end of July, the total U.S. imports of rubber reached 1.09 million tons. The HS code includes 4001, 4002, 4003 and 4005 codes, and the import value reached 2.19 billion U.S. dollars. Compared with the same period in 2020, import volume and import value increased by 12% and 27.6% respectively. Among them, Indonesia, Thailand, Canada, South Korea and Côte d’Ivoire are the top five markets that supply the most rubber to the United States.

During this period, Vietnam was the 11th largest supplier of rubber to the United States. Rubber exports reached 23.51 million tons, and exports reached 41.87 million U.S. dollars. Compared with the same period in 2020, exports and exports increased by 61% and 92.3% respectively. Vietnam's rubber market share in total U.S. rubber imports is 2.2%, slightly higher than 1.5% in the first seven months of 2020.

Especially in the first seven months of 2021, Vietnam is the fourth largest supplier of natural rubber to the United States, with a supply of 23,460 tons and a value of US$41.65 million. Compared with the same period in 2020, sales increased by 60.8% and value increased by 92.9%. Vietnam's natural rubber market share in the total US rubber imports is 4.3%, much higher than the 2.9% in the first seven months of 2020.

Statistics show that in the first seven months of 2021, the United States imported a total of 396.22 million tons of synthetic rubber (HS code: 4002), with an import value of 823.13 million US dollars, a year-on-year increase of 15.6% and a year-on-year increase of 20.5%. In the first seven months of 2020, South Korea, Japan, Germany, Mexico and Russia are the top five suppliers of synthetic rubber to the United States.

It is worth noting that in the first seven months of 2021, the structure of the US synthetic rubber supply market has changed. Specifically, Japan's market share has increased, while the market shares of Germany, South Korea, Mexico, and Russia have all declined. Vietnam's synthetic rubber only accounts for 0.01% of the total US synthetic rubber imports.