Vietnam Plastic Export Likely to Hit US$1 Bln This Year
Vietnam is expected to make plastic export revenues of US$1 billion this year, up roughly 43 per cent on-year, forecast the Ministry of Industry and Trade.
Vietnamese plastic products are said to have high competitiveness as they are made with modern technologies.
Currently, the world’s demand for plastics is very high with an average import growth of over 7 per cent a year. Three big plastics consumers are the U.S, the EU and Japan. This is a good chance for Vietnamese plastic exporters.
For plastic packing alone, the EU imports over 500,000 tons yearly and Japan 480,000 tons while the market share of Vietnamese plastics accounts for some 1 per cent in the U.S., 3 per cent in Japan and 5 per cent in the EU.
In the first five months this year, Vietnam earns an estimate of US$412 million from plastic exports, an on-year increase of 27.9 per cent. (VNA)
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