Market and product
Positive Plastic Export Market Signs
(VEN) - Export turnover in January 2012 increased by 16.8 percent compared to the same period last year. Positive signs in turnover growth in export markets partly reduced anxieties among Vietnam's plastic businesses.
According to the Vietnam Plastics Association statistics, industrial plastic products exports in the early part of this year were positive. In January, export turnover reached US$7.98 million, an increase of 16.8 percent compared to the same period last year. The uncompleted statistics for February revealed that export turnover earned about US$9 million. This has proved really good news given the difficult context for businesses, and it indicates a favorable year for industrial plastic product exports.
One of the most important contributions to the turnover growth rate this year was the prosperity of import markets. Until now, Japan has been the largest market for Vietnam's industrial plastic products manufacturing businesses. In January, export turnover to Japan earned US$4.9 million, accounting for 61.1 percent of total plastics exports. In the short and long term, Japan remains one of the most important markets for Vietnam's industrial plastic products.
Export turnover from industrial plastic products in January to the US stood at US$536,900, ranking third as a proportion of exports. This represented an increase of 12.7 percent, accounting for 6.7 percent as the proportion of exports. The US continues to remain a key market of plastic industry.
Thailandand Malaysia topped the list of 28 markets importing Vietnamese industrial plastic products. Export turnover to Thailand in January recorded a record number when increased by 629.1 percent compared to the same month last year, reaching US$783,400 and accounting for 9.8 percent in the proportion of exports. Vietnam exported products worth an estimated US$487,400 to Malaysia, with the country accounting for 6.1 percent of total plastics exports. According to forecasts, demand among these two markets will tend to rise.
Chinais the only market which experienced unexpected fluctuation when export turnover dropped 51 percent to US$328,800, accounting for just 4.1 percent of total exports. Compared to December 2011, this still marked a 35.9 percent increase.
This year's plastic product exports continue to exhibit many positive signs, with a rapid increase in export turnover in each market despite forecasted economic difficulties. According to the Vietnam Plastics Association, these early results are an indication of an increase in industrial plastic product exports this year./.
