TAIWAN PROMOTES RUBBER IMPORTS FROM VIETNAM

According to Taiwan Finance Authority, in the first 5 months of 2021, Taiwan imported 117.76 thousand tons of rubber, worth $261.9 million, rising by 10.1% in volume by 27.8% in value over the same period of 2020.

Thailand, Japan, the United States, Indonesia, and Vietnam are the 5 largest rubber suppliers to Taiwan in the first 5 months of 2021.

In the past 5 months, Vietnam is the 5th largest rubber supplier to Taiwan with 11.95 thousand tons, worth 23.59 million USD, rising by 78% in volume and by 132.1% in value over the same period in 2020. Vietnam accounted for 10.2% of Taiwan rubber imports, rising up compared to 6.3% in the first 5 months of 2020.

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Taiwan is tending to import more Vietnamese rubber while reducing imports from some key markets like Thailand, Japan, Korea, and Malaysia.

Particularly for natural rubber, Vietnam was the third-largest supplier to Taiwan in the first 5 months of the year, with 11.76 thousand tons, worth 23.4 million USD, up 91.3%. in volume and 148% in value over the same period in 2020. Vietnam accounted for 28.9% in the Taiwan importing rubber market, rising up compared to 5.1% in the first 5 months of 2020.

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