Vietnam exported 2.14 million tons of rubber in 2023, earning $2.89 billion, figures from the General Department of Vietnam Customs show.

The figures represent a year-on-year increase of 0.04 per cent in volume but a decline of 12.7 per cent in value.

The average export price was $1,350 per ton, down 12.7 per cent compared to 2022.

China remained Vietnam’s largest market, accounting for 79.22 per cent of the country’s total export volume and 78.08 per cent of value. It was followed by India, with 5.34 per cent and 5.49 per cent, respectively.

The Ministry of Agriculture and Rural Development said rubber exports last year faced many difficulties due to the strong fall in price and the slow recovery of production in China.