Meanwhile, the country’s exports of plastic products also saw growth in the period.
Vietnam’s exports of plastics in the first seven months of 2019
According to statistics figures from the General Department of Customs, in July of 2019, the country’s exports of plastic materials increased both in volume and value compared to June of 2019, by 36.5 per cent to 167,600 tons, and by 34.2 per cent to 234.07 million USD, respectively.
The figure raised the country’s exports of this item from the beginning of the year to the end of July of 2019 to 781,710 tons, worth of 1.07 billion USD, up by 10.7 per cent in volume and 14.6 per cent in value over the same period of 2018.
Leading export markets of plastics in the first 7 months of 2019
Vietnam exported raw plastic materials mainly to the Chinese market, accounting for 32 per cent of the total volume - this is also the leading market for turnover. In addition to the factors that made China increase the imports of plastic materials from Vietnam, the distance and geographical position were also one of the reasons why China imported this item from Vietnam.
Accordingly, in July of 2019 China imported from Vietnam over 41,550 tons of plastic materials, worth of 37.73 million USD, an increase of 67.92 per cent in volume and 51.3 per cent in value and the aveage export price reached 908.08 USD per ton, down by 9.9 per cent compared to June of 2019; if compared with July of 2018, it decreasedby 13.75 per cent in quantity and 12.49 per cent in value, the average price increased by 1.47 per cent. The figure brought the country’s total exports of this item to China in the first 7 months of 2019 to 247,770 tons, accounting for 31.69 per cent of the total market share, worth of 245.49 million USD, down by 32.01 per cent in volume and 13.79 per cent in value, but the average price increased by 26.79 per cent over the same period of 2018 to 990.81 USD per ton
Notably, although ranked second after China, but the country’s exports of this group of item to Indonesia market in the first 7 months of 2019 increased sharply, by 2.7 times in volume (corresponding to 170.12 per cent) and by 2.2 times in value (117.16 per cent respectively), reaching 79,800 tons, worth of 97.24 million USD, respectively, despite the average price reached 1218.33 USD per ton, down by 19.61 per cent compared to the first 7 months of 2018.
Particularly in July of 2019, Vietnam also exported to Indonesia 10,400 tons of plastic materials worth of 13.2 million USD, with the average export price of 1270.95 USD per ton, down by 30.42 per cent in volume and 22.73 per cent in value The average price and export price increased by 11.05 per cent compared to June of 2019. In comparison to July of 2018, the country’s exports of plastic materials to Indonesia increased by 2.2 times in volume (ie, 117.43 per cent), and by 7.52 per cent in value.
The next were Japan, Thailand, Malaysia, and India. The exports of plastics to these markets all increased in both quantity and value, although the average export price has almost declined compared to the same period of 2018.
In general, in the first 7 months of the year, the amount of plastic materials exported to markets has increased. In particular, the exports to Italy increased sharply in both quantity and value, though only reached 11.01 thousand tons, worth of 12.48 million USD, but increased 393.53 times in volume (39253.57 per cent) and by 186.2 times in value (an increase of 18526.54 per cent) over the same period last year.
Besides, exports to the other markets such as South Africa and Ivory Coast also increased strongly, both more than twice in both quantity and value.
Especially, in the first 7 months of 2019 Vietnam had several new markets for plastics such as Portugal, Srilanka, Peru and Nigeria with the exports of 2,300 tons; 3,200 tons; 1,400 tons and 872 tons.
Vietnam’s exports of plastic products in the first seven months of 2019
After decreasing in June, in July of 2019, the country’s exports of plastic products increased by 8.5 per cent to 292.47 million USD. The figure brought the country’s total exports of plastics products from the beginning of the year to the end of July 2019 to 1.94 billion USD, up by 14.6 per cent over the same period of 2018.
Vietnam exported plastics products mainly to markets such as Japan, the U.S, South Korea, Cambodia, and China. Japan was leading with 63 million USD in July of 2019, an increase of 8.06 per cent compared to June of 2019 and by 13.58 per cent compared to June of 2019. The figure of the first 7 months of 2019 was 422.88 million USD, up by 14.93 per cent over the same period of 2018.
It was followed by the U.S with 61.9 million USD, up by 12.26 per cent over the previous month and by 43.54 per cent over the same month of 2018. The total exports to the U.S in the first 7 months of this year reached 351 million USD, up by 31.59 per cent year – on – year.
The followings were Korea, Cambodia, and China, and all saw growth in export turnover in July and the first 7 months of 2019.
In general, the country’s exports of plastic products to almost all markets in July of 2019 increased. The exports to Saudi Arabia and Czech increased by 257.93 per cent and 104.15 per cent respectively, though it was only 687,100 USD and 625.52 USD, respectively. And vice versa, The exports to Denmark and the U.A.E decreased by 33.2 per cent and 33.72 per cent, respectively.
Thus, from the beginning of the year to the end of July 2019, Vietnam’s exportsto most markets has grown. The exports to India increased the most by 94.05 per cent, reaching 42.55 million USD. In July alone, the country’s exports of plastic products decreased by 5.8 per cent compared to June of 2019 but increased by 4.3 per cent compared to July of 2018, equivalent to 4.55 million USD.
CK
Source: VITIC
