KUALA LUMPUR (Sept 2): Malaysia's exports of rubber and rubber products fell 54.5% year-on-year to RM20.24 billion in the first half of 2022 (1H22), said the Malaysian Rubber Council (MRC) on Friday (Sept 2).

Exports of rubber products plunged 60.8% to RM15.63 billion from RM39.86 billion in 1H21 while exports of rubber gained slightly by 1.01% to RM4.61 billion from RM4.56 billion, said MRC.

There was a huge drop in exports of latex goods, under rubber products, to RM12.89 billion from RM37.45 billion previously, according to MRC's infographic.

In a table, MRC also revealed that rubber gloves dragged down the exports of latex goods, falling 68.1% to RM11.7 billion from RM36.54 billion in 1H21. Rubber gloves, however, remained as the country's top rubber product for export.

As for the exports of non-gloves latex products such as catheters, foam products, condoms and rubber toys, MRC said they showed positive expansion of 35.5% to RM1.23 billion from RM907 million in 1H21.

"Foam products, mainly latex mattresses, recorded the highest increase at 182.4% in 1H22 at RM202.5 million [from] RM71.7 million in [1H21]," the council added.

The latex goods sector was followed by the tyre sector in terms of export value, with a total of RM883.2 million, a 6% growth from RM832.8 million in 1H21.

MRC also noted that the US, China and Germany were the top three export destinations for rubber products in 1H22. All three countries recorded declines from 1H21 with total exports to the US at RM4.55 billion (-69.1%), China at RM1.04 billion (-23.7%) and Germany at RM954.4 million (-64.7%).

MRC chief executive officer Nor Hizwan Ahmad said: "Now that we have an indication of the market opportunity based on size of the market and our exports, let us focus on new investments, technological advances and greener products to grow exports."