Tyre export soars

During the past year, export volume of tires products has increased sharply because of Vietnam’s success in attracting foreign investors to make investment in developing tire factories there.

According to Vietnam Rubber Association’s statistics, tires counted for 83 percent of the latex-originated products, raising the export turnovers of latex products by 98 percent against the same period of last year, to $78 million.

Meanwhile, imported products from latex also increased by 28.5 percent at $87 million, resulting in reduction in trade deficit of these goods. Especially, there has been export surplus in groups of tires products.
The leading companies with largest tires export turnover included Kumho Tires Vietnam, under South Korea’s 100 percent owned Kumho Group counting for 45 percent of total export turnover, Casumina of 12 percent, Kenda Vietnam of 11.8 percent.

In Vietnam’s tires export structure, tires for trucks counted for 63 percent, two-wheel motorbikes of 20 percent and the rest of tires for bicycles and industrial tires. Vietnamese rubber producers still considered the US as the major market for tires export.

The association revealed that despite large export volume of tires for trucks being exported, Vietnam’s domestic market still have large demands for truck tires that haven’t been produced in the country with famous trademarks such as Michelin, Bridgestone and Goodyear.

Exporting rubber products was one of Vietnam’s long-term strategy. Vietnam has been the world’s leading rubber trees

CafeF

Tags: Vietnam tyre, Vietnam tyre exports

Posted by VBN on May 25 2010. Filed under Rubber & Plastic. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry