Exports Of Rubber, Rubber Products To Thrive For Years To Come - Malaysian Minister

SHAH ALAM (Selangor, Malaysia), Oct 10 (Bernama) -- The exports of rubber and rubber products are expected to thrive for years to come based on its year-on-year increase, the Ministry of Plantation Industries and Commodities said. Minister Mah Siew Keong said the exports of rubber and rubber products were pivotal to the country's revenue as they contributed about US$4.33 billion (RM18 billion) in export value and the figure was increasing year-on-year. "In 2010, our latex product exports -- gloves and condoms -- were worth US$2.48 billion (RM10.3 billion), while in 2015 they accounted for US$3.51 billion (RM14.6 billion) -- an increase of US$964.37 million (RM4 billion) over five years and I am confident that this progress will continue," he told reporters during a working visit to a Top Glove Corp Bhd's factory, here Monday. (US$1=RM4.14) Malaysia exported rubber gloves worth RM13 billion in 2015, Mah said, adding that, "The volume speaks for itself, indicating that the country is very competitive in the export market." Mah said as Malaysia's produced quality gloves, he was confident that the export market could be further strengthened as the ministry would continue to focus on the export of rubber products. Top Glove, the world's largest rubber glove manufacturer, with a production capacity of 47 billion rubber gloves annually, exports its products to 195 countries Chairman Dr Lim Wee Chai said. It exports 30 per cent of rubber gloves to the US, Europe (30 per cent), Asia (17 per cent), Latin America (10 per cent), Middle East (seven per cent) and Africa (three per cent). Top Glove, which has 28 factories worldwide, was incorporated in 1991 and listed on Bursa Malaysia (Malaysia's Stock Exchange) in 2001. -- BERNAMA