Overview of the export situation of plastic products in the first 8 months of 2022
Export of plastic products grew strongly in the first 8 months of the year
According to statistics of the General Department of Vietnam Customs, the export of plastic products in the first 8 months of 2022 reached 3.84 billion USD, up 20.6% over the same period in 2021. In August 2022, export turnover Plastic product exports reached US$467.4 million, up 5.4% compared to July 2022 and 12.6% higher than August 2021.
In August 2022, export turnover increased again after a sharp decrease in July 2022. In the first 8 months of 2022, export turnover still increased, but the growth rate slowed down. The reason is considered to be the decrease in export turnover to the largest market, the US. It is expected that in the first 9 months of 2022, the export of plastic products will continue to grow strongly.
However, exporting plastic products also faces many barriers.
Around the world, many markets have taken drastic measures to reduce plastic use. This also greatly affects the plastic industry in Vietnam.
Recently, Korea has taken decisive actions such as: In September 2021, the government pledged to reduce plastic use by 2030. At the same time, this market also aims to become a society without plastic. in 2050. In 2022, Korea will reinstate its ban on single-use plastic cups in cafes and restaurants. This regulation was first applied in 2019, but interrupted by the pandemic, the country is expected to expand to straws and eating utensils later this year.
The above plastic industry infographic includes updated news and information compiled from: “Report of the plastics industry in the third quarter of 2022“. The full report will provide customers with analytical information on: macroeconomics, information on raw materials, plastic raw materials, finished plastics and related news.
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Overview of plastic industry news in 2021: https://viracresearch.com/nganh-nhua-viet-nam-mien-nhiem-truoc-covid-19/