According to statistics from the China Customs Administration, in the first 8 months of 2023, China imported 5.35 million tons of rubber (HS 4001, 4002, 4003, 4005), worth 7.98 billion USD, up 13.9% in volume, but down 9.6% in value compared to the same period in 2022.

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Thailand, Vietnam, Malaysia, Ivory Coast and Russia are the five largest markets supplying rubber to China. Except for Malaysia, the amount of rubber imported from these markets all increased significantly compared to the same period in 2022.

In the first 8 months of 2023, Vietnam was the second largest rubber supplier to China with 976.1 thousand tons, worth 1.3 million USD, up 16.7% in volume, but down 6.6% in value compared to the same period in 2022.

Vietnam's rubber market share accounted for 18.23% of China's total rubber imports in the first 8 months of 2023, higher than the 17.79% in the first 8 months of 2022.

In the first 8 months of 2023, China mainly imported natural rubber and synthetic rubber, and imports of these types tended to increase compared to the same period in 2022. Of which, natural rubber accounted for 31.58% of China's total rubber imports, while synthetic rubber accounted for 67.18%; the rest was recycled rubber and mixed rubber.

In the first 8 months of 2023, China imported 1.69 million tons of natural rubber (HS 4001), worth 2.2 billion USD, up 6.7% in volume, but down 16.3% in value compared to the same period in 2022.

During the same period, Vietnam was the 5th largest natural rubber supplier to China with 124.63 thousand tons, worth 135.94 million USD, down 14.2% in volume and 34.3% in value compared to the same period in 2022.

Vietnam's natural rubber market share accounts for 7.37% of China's total natural rubber imports, lower than the 9.16% level in the first 8 months of 2022.

China also imported 2.6 million tons of mixed natural and synthetic rubber (HS 400280) in the past 8 months with a value of 3.59 billion USD, up 25.7% in volume, but down 1% in value compared to the same period in 2022.

In the first 8 months of 2023, Vietnam was the second largest market supplying mixed natural rubber and synthetic rubber to China with 846.06 thousand tons, worth 1.15 billion USD, up 23.4% in volume, but down 1.9% in value compared to the same period in 2022.

Vietnam's mixed natural rubber and synthetic rubber market share accounted for 32.51% of China's total mixed natural rubber and synthetic rubber import turnover, lower than the 33.13% level in the first 8 months of 2022.

Notably, in the first 8 months of 2023, China's imports of mixed natural rubber and synthetic rubber from Thailand also increased sharply, with 1.34 million tons, worth 1.86 billion USD, up 36% in volume and 6.7% in value over the same period in 2022.

Thailand's mixed market share of natural rubber and synthetic rubber accounts for 51.5% of China's total import turnover of this type of rubber, a sharp increase compared to 47.59% in the first 8 months of 2022.

In addition, China also increased imports of mixed natural rubber and synthetic rubber from markets such as Malaysia, Laos, Indonesia, Philippines, Taiwan; while reducing imports from Myanmar, Cambodia... compared to the same period in 2022.

Top 10 rubber suppliers to China in the first 8 months of 2023 (China Customs)