Vietnam Forecast to Export US$1.1B Plastic Products in 2010
Vietnam is forecast to earn US$1.1 billion from exporting plastic products in 2010, up from an estimated value of $950 million this year.
The plastic consumption per capita is expected to rise to 32kg next year, up from the current 22kg, according to the Vietnam Plastics Association.
The country’s plastics industry is estimated to grow 15% this year, said the association, adding that the industry has to import between 60% and 70% of raw materials annually.
In the first ten months of this year, Vietnam exported $671 million worth of plastic products to 45 markets, of which, Japan and the U.S. were the country’s key importers, representing 24% and 20% of the total export value, respectively.
Vietnam has so far had nearly 2,000 plastics companies. (Investment)
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