Vietnam Rubber Exports Surges 93.7% to $2.376B in 2010: GSO
Vietnam, the world’s fourth largest rubber exporter, is estimated to have earned $2.376 billion from exporting 783,000 tons of rubber this year, the Government’s General Statistics Office (GSO) said.
The figures represented on-year increase of 93.7% in value and 7% in volume, the GSO said on Tuesday.
Local firms have shipped abroad 100,000 tons of rubber valued at $380 million since early December, compared to 89,000 tons worth $322 million in November.
The export prices of rubber have surged to $5,000 per ton in late December and are expected to keep unchanged till mid-2011, said Le Quang Thung, general director of Vietnam Rubber Group.
In 2011, Vietnam’s natural rubber exports are forecast to ease slightly to 770,000 tons as domestic manufacturers will need more rubber latex to feed production.
General Secretary Tran Thi Thuy Hoa of the Vietnam Rubber Association said rubber exports in 2011 would drop 1.3% even though Vietnam’s output next year would rise 2.6% to 790,000 tons
Vietnam’s rubber firms posted a combined profit of VND80 trillion in 2010. (GSO)
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