Plastics industry breaks export mould
Plastics industry breaks export mould
Increasing global demand for plastic products had provided opportunities for domestic manufacturers to expand their markets, according to the Industry and Trade Information Centre.
Statistics showed that by June 15, the export turnover of the plastics industry had reached US$771.7 million and was forecast to increase the in coming months.
Japan was the largest importer of Vietnamese plastic products, with turnover of $163.3 million in the first five months of the year, followed by the US ($76.6 million), Cambodia ($60.1 million) and Germany ($44.1 million).
Viet Nam exported a diversified range of products, from plastic bags to household commodities and industrial plastics. Vietnamese-made plastic bags are now present in nearly 60 markets around the world.
This was a great opportunity for domestic plastics producers to boost exports to difficult markets as many were shifting from importing products from China, according to Thoi Bao Kinh Te Viet Nam (Viet Nam Economics Time).
It was important to improve product quality and enhance competitiveness to grasp this chance, experts said.
The plastics industry plans to produce high-quality and environmentally-friendly products with diverse range of types and models together with increasing the proportion of technical plastics and plastic products for construction.
According to the Viet Nam Plastics Association, the plastics industry was expected to grow at a rate of 11-13.5 per cent this year to reach $2.2 billion in export turnover.
Last year's export turnover hit $1.98 billion, representing a 42 per cent increase over 2011.
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