Plastic Exports Up 30.1 per cent in Jan-May

Vietnam’s plastic exports reached US$40 million in May, raising total earnings from plastic exports in the first five months to US$173 million, up 30.1 per cent on-year, according to the Ministry of Industry (MoI).

 

Vietnamese plastic products are mainly shipped to Cambodia, Laos and the Philippines.

 

The MoI forecast that local plastics enterprises will continue facing difficulties due to increasing material prices. To meet domestic demand, the plastic sector should build material factories soon, the MoI suggested.

 

This year, Vietnam expects to earn US$500 million by exporting nearly two million tons of plastic products, up 43 per cent over last year.

 

To reach the target, the MoI has asked local plastic businesses to further promote their products and export activities in foreign markets. Businesses are also required to step up the production of sought-after commodities such as packaging and high-quality plastic products.