Crane Industry Observation: Optimistic prospects for Vietnam’s rubber exports to the US in 2022

Vietnam's "Customs Online" reported on January 17 that the Import and Export Bureau of the Ministry of Industry and Trade of Vietnam recently cited statistics from the Amerika Serikat International Trade Commission showing that in the first 11 months of 2021, the United States imported 1.79 million tons of rubber (HS codes 4001, 4002, 4003). , 4005), the number increased by 22.8% year-on-year; the import value reached 3.72 billion US dollars, and the import value increased by 46.4% year-on-year.

From the perspective of specific varieties, in the first 11 months of 2021, the United States imported 920,870 tons of natural rubber (HS code 4001), with an import value of 1.7 billion US dollars. Vietnam is the fourth largest supplier of natural rubber to the United States.

Vietnam rubber accounted for 2.2% of total U.S. rubber imports, up slightly from 1.5% in the first 11 months of 2020. The representative of Vietnam's Ministry of Industry and Trade said that Vietnam's export share of the rubber market in the United States has gradually improved, but it is still low. Therefore, there is still a lot of room for Vietnam's rubber exports to the US market.

The U.S. economy is gradually recovering after being affected by the epidemic for a long time, and U.S. rubber demand is expected to continue to grow until 2023, thanks to the increased demand for rubber products. The Import and Export Bureau of Vietnam’s Ministry of Industry and Trade predicts that Vietnam’s rubber exports to the United States in 2022 are optimistic.

As a crane supplier in China, Dongqi is very pleased to see the prosperity and development of Vietnam's rubber market. For any industrial market, cranes will be an integral part of its future growth. In the past 2021, we have provided 15 crane contracts to the Vietnamese market, including 6 electric hoist contracts, 2 overhead crane contracts, 2 jib crane contracts and some crane attachment contracts. If you need custom cranes from China, or have any questions about various types of cranes, please feel free to hubungi kami

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