Export value of rubber products Thailand 2024, by product
As of February 2024, the export value of car tires amounted to approximately 1.2 billion U.S. dollars. This was followed by rubber gloves, amounting to around 223.95 million U.S. dollars. In that same period, the production of motorcycle tires contracted to a 13.79 percent decrease from the previous year.
Thailand's export of rubber products
Thailand is currently the world's leading supplier of natural rubber, with block rubber taking the highest share of exports. Overall, rubber exports from Thailand have demonstrated steady and continuous growth with only slight fluctuations. Natural rubber exports from Thailand significantly contribute to the automotive industry since the country's major trade partners are home to various global manufacturing corporations such as Bridgestone, Good Year, Michelin, and Sumitomo.
Price determination and the logistics of Thai rubber exports
The price of natural rubber products from Thailand varies according to the grade of the rubber and the market from which it is purchased. The cost of natural rubber from each market is determined through future pricing, which is significantly influenced by external factors, especially commodity prices, automotive market prices, and local currency fluctuations. Trade partners may purchase Thai natural rubber products from different domestic markets, such as Bangkok and Hat Yai, or international markets, such as Singapore and Tokyo. Most of the rubber sold in these markets is transported from the various ports in Thailand. Most of the ports in the southern region of the country ship to the Singapore market or directly to Malaysia, while the Bangkok or the Laem Chabang port in the central region deals with major trade partners worldwide.
