Vietnam plastics exports to rise 15%

Vietnam Plastics Association (VPA) anticipates 12% to 15% rise in Vietnam's plastics export in 2018, with Japan and the United States being major destinations. The association also expects new export markets to intensify demand for Vietnam's plastics products.  

 

Japan is Vietnam's biggest export market for plastics, growing by around 25% annually. Vietnam now ranks among the top 10 countries exporting plastics to Japan. Vietnam's plastic manufacturers have successfully met stringent regulations in the Japanese market and are now keen on enhancing product design and quality as it moves to further explore this market.  

 

While the United States continues to impose anti-dumping taxes to plastic bags from Vietnam, this has minimal effect on the plastics industry's shipments.  The US imports about US$50 billion of plastics and plastic products yearly, or 9% of global import of plastics, according to VPA.  

 

EU is also a key market for Vietnam's plastic products, in particular plastic pipes. EU does not impose anti-dumping duties to Vietnam's plastic products but tax rate remains high.