Plastics production is considered to be one of the top industries with high growth potentials, and statistics has shown that the plastics export in recent years has increased strongly.
Plastics export turnover is considerably increasing
Statistics from General Department of Vietnam Customs revealed that plastics export turnover in recent years has considerably risen. Particularly, the average growth rate is about 14% - 15%/year, the export turnover in 2017 was 2.5 billion US dollars, and during 09 months in 2018, it reached 2.2 billion US dollars, increasing by 9.2% compared to the previous year.
A quick look at some potential plastics export markets
4 potential markets that Vietnam plastics production should pay attention within the first nine-month period of 2018 include Japan, the USA, Korea and The Netherlands.
Japan is regarded as an important market for plastics export in Vietnam, accounting for 22% with 484.8 million US dollars, rising by 17.49% in comparison with the same period in 2017. In 09/2018, despite a fall of 10.81% compared to 08/2018, plastics export reached 54.2 million US dollars which rose by 16.87% compared to 09/2017. A variety of remarkable export items include plastic bags, plastic household commodities, plastic items used in office, schools and canvas. With the import demand of over 10 billion US dollars in Japan, this is a promising potential export market that plastics manufacturers should focus.
The US market made up 15.7% with 348.7 million US dollars, climbing by 24.86% compared to the same period of last year. In 09/2018, the export turnover from this market was about 35.7 million US dollars, rising by 18.87% compared to 09/2017 despite a drop of 21.82% compared to 08/2018. Some noticeable export items are plastics for delivery, package and household, plastic bags and canvas.
Regarding Korea and The Netherlands, the growth rates were over 18%, reaching around 119.5 and 114.4 million US dollars respectively. In addition, Hong Kong and India also increased their import products from Vietnam.
To summarize, plastics production in general and plastics product export in particular are positively developing. However, in order to develop export markets, many difficulties in product quality testings and controls are unavoidable. Therefore, enterprises in Vietnam are in need of making endless attempts to update information and acquire experience.
Plastech Vietnam - The International Exhibition & Conference on Machinery, Equipment, Technology and Materials of Plastics Industry anually held in Vietnam, is an ideal place for connecting, enhancing and expanding businesses. Please come to visit PLASTECH VIETNAM 2019, which will take place from 26th – 28th June 2019 at Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City.
16 November 2018