Made-in-Viet Nam tyres present in 128 markets
Made-in-Viet Nam tyres present in 128 markets
Made-in-Viet Nam tyres have been rolling in 128 countries and territories worldwide, according to Vo Hoang An, Vice President of the Viet Nam Rubber Association (VRA).
Last year, the country earned US$920 million from tyre exports, up 44.2 per cent from 2016.
Local tyre production enjoyed a trade surplus of $564 million 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 (accounting for 64.3 per cent), followed by truck tyres with $146.2 million (15.9 per cent), motorbike tyres with $77 million (8.4 per cent) and bike tyres with $6.4 million (6.6 per cent).
The top 10 leading tyre exporters in the country included two domestic companies — the Southern Rubber Industry Joint Stock Company (Casumina) and Da Nang Rubber Company (RRC).
Some 424,000 tonnes of rubber were shipped abroad at a value of $620 million 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 Viet Nam.
They make up market shares of 58.1 percent, 7.5 percent and 4.6 percent, respectively.
A report from the VRA showed that Viet Nam was home to 971,600ha of rubber trees which yielded more than 1.08 million tonnes of rubber latex in 2017, accounting for 8.3 per cent of the world’s total production.
Besides rubber products, the rubber sector brought home $2.25 billion from the export of rubber latex and $1.9 billion from rubber wood exports.
