Viet Nam sets record for rubber export value

Foreign invested businesses contributed U.S. $22.9 billion to the figure or a 42.5% year-on-year increase.

The country’s leading staple exports include textiles and garments, footwear, seafood and electronic products.

The garments and textiles sector took the lead in export turnover (excluding crude oil) with U.S. $5.9 billion, a 22% increase over last year, representing 14.9% of the country’s total export revenues. Its largest market remained the U.S. with an export value of U.S. $2.7 billion,which was followed by the EU and Japanese markets.

Footwear exports fetched about $3.5 billion, a 15% increase over last year and seafood, $3.4 billion, a 24 increase.

Rubber joined the $1 billion earners’ club, with more than $1.3 billion export value. Thanks to the sharp increase of latex price, the sector has recorded an increase of $500 million over the plan or 64% over last year.

Source: rubberworld.com