Business

Vietnam ranks third in natural rubber production, export

Vietnam currently ranks third globally in natural rubber production and export, according to the Vietnam Rubber Association.

Producing rubber for export (Photo: VNA)

Producing rubber for export (Photo: VNA)

The association revealed that in 2017, the country earned US$ 2.3 billion from export of 1.4 million tonnes of natural rubber, up 36 percent in value and 11.4 percent in volume year on year.

The Vietnam Rubber Group alone produced over 250,000 tonnes of rubber latex and earned revenue of VND 21.38 trillion (US$ 936 million), exceeding the plan by 20 percent. Its pre-tax profit reached over VND 4.1 trillion (US$ 179.58 million), surpassing the yearly plan by 36 percent. The firm contributed VND 1.7 trillion (US$ 74.46 million) to the State budget in the year, while paying its employees about VND 7.1 million (US$ 310) each per month averagely.

VNS

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