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KUALA LUMPUR (March 9): The export value for Malaysian rubber and rubber products totalled RM35.98 billion last year, the Malaysian Rubber Council (MRC) said.
In a statement on Thursday, MRC said the export value for rubber was recorded at RM8.82 billion while rubber products’ export value stood at RM27.16 billion.
“With a value of RM19.04 billion, rubber gloves remain the biggest contributor to the exports of rubber products, making up 70.1% of the total share in 2022.
“Malaysia exported a wide range of rubber gloves, including for applications in medical, industrial, cleanroom and food service sectors,” it said.
It said besides gloves, other latex products, comprising threads, condoms, catheters and foam products increased by 29.1% in 2022 compared with 2021 with a total export value of RM2.38 billion.
“Among the key exports of latex products, foam products, catheters and condoms recorded increases by 138.5% to RM359 million, 93.7% (RM620.4 million) and 25.2% (RM383.1 million), respectively, in 2022.
“The strong growth indicates that Malaysia’s latex products industry is diversifying and expanding beyond gloves, which have traditionally dominated the country’s latex products exports with around 95% share,” it said.
MRC said that in the non-latex products category, the value of tyres exported increased by 4.8% to RM1.83 billion in 2022 from RM1.74 billion in 2021.
“Tyre exports to Brazil and Germany increased significantly by approximately 49% and 32.4%, respectively, compared with 2021,” it said.
It said general rubber goods, comprising products like automotive components, tyre precured treads, structural bearings and sporting goods, recorded a total export value of RM1.67 billion, an increase of 19.6% from 2021.
It added that the United States was the largest contributor to the total exports with RM235.2 million in 2022 while Indonesia recorded the highest growth at 42%, resulting in an export value of RM56.2 million last year.
Read more at The Edge Markets
Reference : The Edge Markets