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Thailand Rubber Exports Bounce Back 50% From 2020 Down Year

Thailand Rubber Tree Tapping Exports

The Commerce Ministry reported Monday that Thailand’s rubber exports jumped more than 50 percent, year on year, during the first five months of 2021.

Exports were valued at 70.3 billion baht, an increase of 50.8 percent from the same period last year, when it was valued at 46.7 billion baht. Export volume increased to 1.4 million tons, from 1.2 million tons during the same period in 2020.

Meanwhile, the Thai Rubber Association’s honorary President Lakchai Kittipol revealed that the substantial growth in rubber exports was due to the low export base last year, while the economy around the world is starting to recover and many countries are placing more orders.

He said the price of rubber exports this year was higher than last year. Exports continue to expand, but at a lower rate, because trade partners have already bought some of the stock. Value-added exports, this year, are expected to grow at least 25 percent, due to improvement in the world economy as compared to last year.