HCM City, Feb. 2 -- Vietnam posted a year-on-year increase of 18% in rubber exports to earn 3.4 billion USD in 2024 despite a 6% decline in volume to 2 million tonnes, primarily driven by high prices.

The sum includes 1.2 billion USD worth of rubber products, rising over 13% from the previous year, according to Vietnam Customs.

Meanwhile, about 1.9 million tonnes valued at 3 billion USD were imported last year, leading to a trade surplus of 400 million USD, statistics showed.

Le Thanh Hung, Chairman of the Vietnam Rubber Association (VRA), attributed export growth to a surge in prices which averaged 1,701 USD per tonne in 2024, much higher than the 2023 average of 1,350 USD per tonne. As a result, despite a drop in volume, the export v...