Plastics exports rises strongly in 2012

January 18, 2013 | 09:50

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The plastic industry last year posted a year-on-year growth of over 42.2 pct in export with total revenue of $1.98 billion, the Vietnam Plastics Association (VPA) reports.

At a review meeting of the industry in HCMC on Tuesday, VPA reported that export value of plastic products is estimated at some $1.58 billion last year, growing 17 pct year on year. Meanwhile, exports of plastic materials brought home about $397 million, up by over 60.5 pct in volume and 62.6% in value, the association said.

According to VPA, the high export value of plastic materials reflects the development of material production at home.

Exports of plastic bags contributed the highest revenue with more than $456 million or 28.9 pct of the total.

In the near future, plastic bags will be replaced with biodegradable ones globally, VPA said. But the association forecasts the 2013 export turnover of the product to grow further, citing rising demand from foreign buyers.

Japan, the United States and Germany are the three major markets of Vietnamese plastic products, with Japan being the largest importer in the past five years with the highest export value growth recorded in 2012, up 14pct over 2011 and accounting for 22.6pct.

VPA expects growth of this year’s plastic product export at an average of 11-13.5pct.

SGT

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