Malaysia: Rubber product exports up 21.5pc in 2010

Malaysia's exports of rubber products rose 21.5 per cent last year to RM12.86 billion, compared with RM10.58 billion in 2009.
In 2008, the exports amounted to RM11.2 billion.
The chief executive officer of the Malaysian Rubber Export Promotion Council(MREPC) Datuk Teo Suat Cheng said the strong growth in rubber product exports, was due mainly to the economic recovery in most major markets.
He added that promotional activities undertaken by the MREPC last year, also contributed to the recovery.

He said to mitigate the effects of the economic crisis of 2009 and regenerate interest in Malaysian rubber products, the MREPC had last year intensified promotional activities in major markets.
"The close collaboration between the industry and MREPC also helped propel the export performance recovery in 2010," he said in a statement released by the MREPC today.
Exports to all regions recorded positive growth in 2010 when compared to 2009.
Major increases in exports in 2010 were recorded to Central Asia (78 per cent), Eastern Europe (47 per cent), South Asia (30 per cent), South America (30 per cent) and North America (26 per cent).
The North America region was Malaysia's largest export destination, taking up 30 per cent or RM3.9 billion worth of Malaysian exports of rubber products, followed by the European Union (EU) at 26 per cent or RM3.3 billion, East Asia (14 per cent or RM1.7 billion) and Asean (nine per cent or RM1.1 billion).
All the top-ten export destinations in 2010 showed strong growth in the import of Malaysian rubber products, year-on-year.
The United States (US) was Malaysia's leading export destination for rubber products, taking up 28 per cent.
Of the top ten export destinations, exports to South Korea increased the most at 53.3 per cent followed by Thailand (51.7 per cent) and China (30.7 per cent).
In 2010, rubber gloves continued to contribute significantly to the total exports of rubber products, registering RM8.9 billion in export value or 69 per cent of the total value of all rubber products exported.
The market for rubber gloves continued to be dominated by the US and EU, which together accounted for 67 per cent of the total exports of rubber gloves from Malaysia in 2010.
The average price of rubber gloves exported increased five per cent in 2010, year-on-year.
In 2010, the exports of condoms recorded RM282 million, an impressive increase of 21 per cent compared to the 2009 value of RM234 million. – Bernama

(Source: http://www.btimes.com.my/Current_News/BTIMES/articles/20110329172123/Article/index_html)