As predicted by the Vietnam Plastics Association (VPA), plastic exports will continue to increase in 2017, with a sustained growth of around 3.5% – 6%.
Japan and the US are Vietnam’s main plastics import markets this year
Analyzing the export opportunities of enterprises in 2017 in some key markets, Ho Duc Lam, Chairman of VPA, said that with demand for plastic products up to $ 8 billion a year, Japan It is still one of the potential markets for Vietnamese plastic products for export.
However, this is a difficult market, with many strict regulations on the quality of goods; Meanwhile, some Vietnamese enterprises have not been able to meet the standards.
For the US market, plastic bag products continue to face antidumping duties. Therefore, the export turnover of plastic bags to the United States accounted for a modest proportion.
However, in addition to this commodity, the market also imports a variety of products such as canvas, household plastics and plastic products used in shipping and packaging. Besides, sheet, plate and plastic film products are the most potential in this market.
In the EU alone, Vietnamese plastic businesses can boost exports to this market, as demand for resin imports remains high, especially plastic pipe products. In addition, in the EU, Vietnamese plastic products are not subject to anti-dumping duties as in other Asian countries. This will be an opportunity for businesses to increase exports in this market.
However, the problems in the internal industry is quite a lot, will be obstacles for export enterprises to develop in 2017. It is not active source of input materials (70-80% of the The type of plastic materials for the industry must import) reduce the competitiveness of enterprises.
This also makes it difficult for exporters to take advantage of tax incentives due to regulations related to the origin of goods. In addition, fluctuating prices of plastic resin in the world, fluctuations in exchange rates … are also factors that strongly affect the plastic enterprises importing raw materials.
According to VPA, in 2016, plastic export is estimated at $ 2.54 billion, slightly up from $ 2.4 billion in 2015; Of which, the export turnover of plastic products reached about USD 2.1 billion, corresponding to a growth of 5.9% compared to 2015; Plastic materials exports over $ 345.8 million, down more than 13.6% in volume and 14.4% in value.
In 2016, Japan, the US and the EU are the major import markets for Vietnamese plastic products. Compared with 2015, the two markets Japan and EU have a slight growth in turnover.
The main reason is that Vietnamese plastic products are under high competitive pressure with plastic products in these markets and imports from other countries as Vietnam dong appreciates relative to other countries. Other currency. Particularly, plastic exports to the United States continue to maintain a high growth rate, up 7.8% over 2015.