After the first nine months of 2023, plastic exports will surpass $3.7 billion.

DNHN - Vietnam's exports of plastic products reached $3.71 billion by the end of September 2023, a 12.2% decrease from the same period in 2022.

Mr. Ho Duc Lam, chairman of the Vietnam Plastics Association, disclosed this information on the sidelines of the 21st international exhibition on industrial machinery and equipment for the plastic and rubber industries - Vietnamplas 2023 on October 18. He also stated that exports of plastic products in the final months of 2023 will not meet expectations.

According to the Vietnam Plastics Association, the global economy did not perform as well as anticipated in the final months of 2023, resulting in a continued decline in plastic product consumption in major markets. In response to the effects of the global economic recession and sluggish consumer spending, businesses reduced orders.

Ms. Judy Wang - President of Yorkers Trading & Marketing Services Company Limited (co-organizer of Vietnamplas 2023) asserts that Vietnam's plastic and rubber industry has a remarkable annual growth rate over the long term. There is a significant annual growth rate (CAGR) of 8% in the demand for attention.

In the context of a challenging market, the Vietnam Plastics Association collaborated with Vinexad Company and Yorkers Company to co-organize the Vietnamplas 2023 exhibition so that domestic and international businesses can exchange and gain access to scientific and technical advancements.

Ngoc Phi (TH)