
Statistics from the US International Trade Commission indicate that the US imported 1.79 million tonnes of rubber worth US$3.72 billion during the January – November period last year, representing an annual rise of 22.8% in volume and 46.4% in value.
Vietnam represented the 11th largest rubber supplier to the US market with 39,090 tonnes exported worth US$68.83 million, up 82.7% in volume and 122.5% in value.
Its rubber market share as part of total US rubber imports accounted for 2.2% in the reviewed period, marking a slight rise compared to 1.5% seen in the previous year.
The Southeast Asian nation makes up the fourth largest provider of natural rubber to the US market with 39,020 tonnes, worth US$68.49 million, increasing by 82.5% in volume and 122.7% in value.
Therefore, the share of Vietnamese natural rubber and synthetic rubber as part of total US imports rose by 4.2% and 0.01%, respectively.
As the US economy has gradually recovered following the COVID-19 pandemic, its rubber demand is anticipated to edge up until 2023, which also presents a wealth of opportunities for local firms to accelerate rubber exports to this market.