According to the statistics of Vietnam Customs, in the first 5 months of 2020, the US remained the largest import market of Vietnam's plastic products, reaching $ 341 million, up 45.9% over the same period in 2019 and accounting for the proportion of 25.2% of total exports of plastic products.
Although affected by the Covid-19 epidemic, Vietnam's export of plastic products to this market still increased sharply in many items, estimated that in the first 6 months of 2020, the export turnover of this product increased by 25% compared to with the same period in 2019, reaching 362 million USD.
Export turnover of plastic products to the US market in 2019-2020 (Unit: million USD)
In April 2020, exports of plastic products to other major markets all decreased compared to March 2019, while exports to the US market increased 2.3% and reached 77.4 million USD, the export turnover of products in the first 4 months of 2020 reached $ 267 million, up 49.5% over the same period in 2019.
Types of plastic products exported in the first 4 months of 2020 to the US market including household plastic products reached $ 71.3 million, up 38.6%; plastic bags reached 50.4 million USD, up by 44%; canvas reached 29.2 million USD, up 21.7%; pouring in construction and construction gained 23.2 million USD, up 524.6%; plastic plates, plates and films reached 22.9 million USD, up 66.9%; and products used in transportation and packaging reached $ 19.1 million, up 50.3% over the same period in 2019.
According to ITC, in addition to the three major markets that provide general household plastic goods (HS3924) to the US market in the first three months of 2020, namely China, Mexico, and Taiwan, Vietnam is the fourth-largest market with plastic products reached $ 32.1 million, up 79.3% compared to the first quarter of 2019, accounting for 2.4% of the total import value of the US market, an increase of 1.3 % compared to the same period in 2019.
It can be seen that Vietnam's export turnover of this commodity to the US has increased sharply. The market capacity of general household plastic goods (HS3924) of Vietnam is being favored by the US market and has more opportunities to export to this market in 2020.