VIETRADE - 2. Export Markets

In 2010, Vietnam plastics were exported to 151 world markets, of which exports to Japan hit figures far higher than others with its 259 million USD. In addition, 20 other markets reached over 10 million USD and 38 others exceeded 1 million USD in the recent year of 2010.

10 main export markets of Vietnam plastic products in 2010

Source: Vietnam General Statistics Office

Japan has been a leader for importing Vietnam plastic products since 2009 with Vietnam’s export revenue in that regard for 2010 registering year-on-year strong growth with 259 million USD, up 32%. Export revenue accounted for by the Japan market was 25% of total export revenue of plastic products in 2010. Products most exported to this market are: products used in transportation; packaging such as plastic bags, shopping bags and plastic boxes; and industrial and household plastic products.

The US, no surprise, is a big market that had a year-on-year lower export revenue in 2010 with just 107 million USD, down 19% compared to 2009’s. The reason of this drop was the US anti-dumping tax applied from August 2009 against Vietnam plastic bags and shopping bags, bringing about a considerable fall of products used in packaging; this is a core export product of Vietnam and significant in export revenue. This situation lasted from August 2009 until the end of 2009 and affected the year 2010, despite Vietnamese businesses’ great efforts to make headway into this market, changing their product export structure in recent 2010. The US market also accounted for a considerable portion of total export revenue of plastic products (10%). Plastic categories responsible for the most exports to the US are products used in transportation, packaging, plastic boards, sheets, films, household plastics, and tarpaulins.

Exports to EU in 2010 also registered admirable year-on-year growth with a high revenue of  49 million USD, up 32% against last year. The 2010 exports to France amounted to 24 million USD, a year-on-year increase of 8%. Exports to Italy were up 2% compared to last year with 17 million USD.

Exports to Germany rose significantly last year with export revenue of 69 million USD, a year-on-year increase of 29%. Germany at the moment is a potential market for Vietnam’s plastic products; it has been associated with constant growing export revenue in 2010. Germany market revenue accounts for 7% of total 2010 export revenue of plastic products, and is expected to maintain that strong growth in 2011. Product categories exported to this market mainly include products used in transportation, packaging, tarpaulin and household plastic products.

Exports to the Netherlands continued to rise in 2010 with annual export value of 64 million USD, a year-on-year increase of a staggering 45%. Of course the Netherlands is seen as a potential market offering superb opportunities to Vietnamese exporters. Two most-exported products categories to the Netherlands are: products used in transportation; packaging; and small statues, flower pots, and ornamentals.

All exports to Belgium, Spain and Sweden markets surpassed 10 million USD in 2010, of which highest revenue came from Belgium with a year-on-year increase of 41%. Expectations are that 2011 export revenue associated with EU markets will have higher growth than 2010.

Cambodia is the ASEAN leading market importing Vietnamese plastic products in 2010 with revenue of 58 million USD, a year-on-year increase of 50% which is expected to keep growing vigorously in 2011. Most-exported to this market are products used in transportation, packaging, household plastic products, ornamental stuffs …

Exports to other markets in ASEAN also had very strong growth in 2010 of which Indonesia had a year-on-year rise of 126% with 43 million USD. Exports to remaining markets rose boldly in 2010, especially the Philippines and Singapore markets had year-on-year growth of 80% in 2010. Considering the geographical conditions and tax barriers, the forecast growth in 2011 export revenue from markets in the ASEAN region is considered quite fine.

TRevenue from 10 export markets of Vietnam’s plastic products

Source: Vietnam General Statistics Office