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2023
Exports $1.57BWorld Rnk 6 / 142
Flag Rnk 325 / 1215
2023
Destination $52.3M Vietnam
2022 - 2023
FASTEST GROWING MARKET $52.3MVietnam
2023
PRODUCT COMPLEXITY IN Synthetic Rubber0.45Rnk 383 / 1025
2023
Imports $8.02BWorld Rnk 1 / 205
Flag Rnk 39 / 1214
2023
Origin $97.9M Thailand
2022 - 2023
FASTEST GROWING ORIGIN $97.9MRussia
2023
ECONOMIC COMPLEXITY of China1.16Rnk 21 / 132

About

Exports In 2023, China exported $1.57B in Synthetic Rubber, making it the 6th largest exporter of Synthetic Rubber in the world. At the same year, Synthetic Rubber was the 325th most exported product in China. The main destination of Synthetic Rubber exports from China are: Vietnam ($277M), Thailand ($189M), South Korea ($132M), India ($98.8M), and Russia ($85.5M).

The fastest growing export markets for Synthetic Rubber of China between 2022 and 2023 were Vietnam ($52.3M), Cambodia ($34.2M), and South Korea ($31.9M).

Imports In 2023, China imported $8.02B in Synthetic Rubber, becoming the 1st largest importer of Synthetic Rubber in the world. At the same year, Synthetic Rubber was the 39th most imported product in China. China imports Synthetic Rubber primarily from: Thailand ($2.39B), Vietnam ($1.98B), Russia ($705M), South Korea ($538M), and Malaysia ($515M).

The fastest growing import markets in Synthetic Rubber for China between 2022 and 2023 were Russia ($97.9M), Laos ($43M), and Vietnam ($27M).

COMPANIES In 2024, leading companies such as Sobel Westex (49), Dollarama (19), and Costco Wholesale (15) were at the forefront of shipping Synthetic Rubber from China to the United States.

Latest Trends

December 2024

About

Overview In December 2024 China's Synthetic Rubber exports accounted up to $214M and imports accounted up to $1.11B, resulting in a negative trade balance of $891M. Between December 2023 and December 2024 the exports of China's   Synthetic Rubber have increased by $58.7M (37.7%) from $156M to $214M, while imports increased by $368M (49.9%) from $737M to $1.11B.

Destinations In December 2024, Synthetic Rubber were exported mostly to Vietnam ($54.8M), Thailand ($33.8M), Russia ($11.6M), India ($11.3M), and South Korea ($10.8M), and were imported mostly from Thailand ($336M), Vietnam ($286M), Russia ($89.7M), Malaysia ($81M), and South Korea ($64.1M).

Growth In December 2024, the increase in Synthetic Rubber's year-by-year exports was explained primarily by an increase in exports to Vietnam ($17.5M or 123%), India ($6.49M or 65.1%), and Thailand ($6.13M or 31%). In December 2024, the increase in Synthetic Rubber's year-by-year imports was explained primarily by an increase in imports from Vietnam ($34.6M or 15.6%), Malaysia ($27.7M or 73.3%), and Russia ($13.5M or 29.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$58.7M(37.7%)
IMPORT GROWTH (December 2023 - December 2024)$368M(49.9%)
MAIN EXPORTER (December 2024)Shandong Province$67.4M
MAIN DESTINATION (December 2024)Vietnam$54.8M

This section shows Synthetic Rubber's exports and imports data at subnational level for China. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Synthetic Rubber over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$1.57B
IMPORTS (2023)$8.02B
NET TRADE (2023)-$6.45B

In 2023, China exported $1.57B in Synthetic Rubber. The main destinations of China exports on Synthetic Rubber were Vietnam ($277M), Thailand ($189M), South Korea ($132M), India ($98.8M), and Russia ($85.5M).

In 2023, China imported $8.02B in Synthetic Rubber, mainly from Thailand ($2.39B), Vietnam ($1.98B), Russia ($705M), South Korea ($538M), and Malaysia ($515M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Synthetic Rubber EXPORT MARKETS FOR China WERE (2022 - 2023):
Vietnam$52.3M (23.3%)
Cambodia$34.2M (200%)
South Korea$31.9M (31.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Synthetic Rubber BY China WERE (2022 - 2023):
Malaysia-$28.9M (-37.1%)
India-$23.5M (-19.2%)
Netherlands-$23.4M (-42.1%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, China's main exporting competitors in Synthetic Rubber were:
Thailand $2.72B
South Korea $2.64B
United States $2.44B
In 2023, China's main importing competitors in Synthetic Rubber were:
United States $1.43B
Thailand $1.19B

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Trade Value of Synthetic Rubber by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $105M
TOP IMPORT POTENTIALVietnam+ $277M

Synthetic Rubber’s highest export potential is India. With an export gap of $105M.   Synthetic Rubber’s highest import potential is Vietnam with an import gap of $277M.

See methodology.

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