Hanoi – Made-in-Vietnam tyres have been rolling in 128 countries and territories worldwide, according to Vice President of the Vietnam Rubber Association (VRA) Vo Hoang An.
Last year, the country earned 920 million USD from tyre exports, up 44.2 percent from 2016. Local tyre production enjoyed a trade surplus of 564 million USD in 2017, doubling the amount gained in the previous year.
Highest export revenue was recorded in the exports of passenger car tyres with 591.5 million USD (accounting for 64.3 percent), followed by truck tyres with 146.2 million USD (15.9 percent), motorbike tyres with 77 million USD (8.4 percent) and bike tyres with 6.4 million USD (6.6 percent).
The top 10 leading tyre exporters in the country included two domestic companies: the Southern Rubber Industry Joint Stock Company (Casumina) and Danang Rubber Company (DRC).
Some 424,000 tonnes of rubber were shipped abroad at a value of 620 million USD in the first five months of the year, up 17.4 percent in volume but down 12.4 percent in value as compared to the same period in 2017.
China, India and Malaysia are the three largest rubber consumption markets of Vietnam. They make up market shares of 58.1 percent, 7.5 percent and 4.6 percent, respectively.
Report from the VRA showed that Vietnam was home to 971,600 hectares of rubber which yielded more than 1.08 million tonnes of rubber latex in 2017, accounting for 8.3 percent of the world’s total production.
Besides rubber products, the rubber sector brought home 2.25 billion USD from the export of rubber latex and 1.9 billion USD from rubber wood exports.