Market and product

Vietnam’s exports of plastic materials and plastic products were estimated to hit $2.2 billion in 2013, the local news provider Gafin.vn reported, citing data from the Vietnam Plastic Association (VPA).

In details, in 2013, Vietnam’s exports of plastic products were estimated to touch $1.8 billion, representing a year on year increase of 13.3%; exports of plastic materials hit $407 million, increasing 25% on year in volume and 57% on year in value, Ho Duc Lam-chairman of VPA said, noting plastic materials are goods with high technical levels, obtaining higher added value in the exports, comparing to plastic products.

Domestic plastic enterprises holds 45% of plastic exports value and Foreign Direct Investment (FDI) firms holds 55%, VPA provided, noting that Vietnam’s plastic businesses are now facing stiff completion from countries in the region. Therefore, it is necessary to have a link between plastic firms, in the long-term, should set up plastic subcommittees to create advantages for Vietnam’s plastic products in the global market. In addition, plastic enterprises also should move to produce environment friendly products, health safety products towards stable exports.

In 2013, Vietnam exported more than 20 types of plastic products into 151 international markets over the world. In which, exports of plastic bags jumped by 27% on year; exports of plastic figurines, flower pots and ornaments increased 26.4%; exports of plastic tubes and accessories, caps, valves… increased by 28%.

Japan topped the list of Vietnam’s plastic importers in 2013 with $401 million, up 11.2% on year, accounting for 20% of total plastic exports value; followed by US, EU.

In 2014, Vietnam’s plastic exports are seen to increase 13.5-16.5% from 2013.