2.6. Plastic -Production:

 According to the data of statistics in 2022, except for rubber, the production of other plastic products tends to decrease compared to 2021.

Table 13: Some types of plastic production, 2022

Export:

Plastic products According to statistics of the General Department of Customs, in 2022 exports of plastic products reached 5.49 billion USD, up 11.4% compared to 2021. In particular, exports of plastic products of FDI enterprises reached 3.74 billion USD, up 12.74% compared to 2021 and accounting for 68.11% of the total export of plastic products of the country.

 In terms of export markets, the United States, Japan, ASEAN, and EU are 4 major markets, accounting for 76.43% of the total export turnover of this item. In particular, the United States is Vietnam's largest export market for plastic products reaching nearly 2.2 billion USD, up 18.9% compared to 2021, accounting for nearly 40% of total export turnover of plastic products; Japan ranked 2nd with 755.3 million USD, up 8.4% compared to 2021, accounting for 13.75%; followed by ASEAN, EU markets ...

Table 14: Vietnam's export market of plastic products, 2022

Plastic materials

 According to statistics of the General Department of Customs, in 2022, exports of plastic materials reached 1.64 million tons, worth $ 2.31 billion, down 1.1% in volume, up 2% in value compared to 2021. The average export price reached about 1,407 USD / ton, up 3.1% compared to 2021. In particular, exports of plastic materials of FDI enterprises reached 1.58 billion USD, up 3.76% and accounting for 68.35% of the total export turnover of plastic materials of the country.

In terms of export markets, 5 countries including ASEAN, China, India, Japan, and the EU accounted for over 64.04% of the total export turnover of plastic materials. In which, exports to ASEAN reached 642.49 million USD, up 25.23% compared to 2021, accounting for 27.82% (Indonesia is the largest import market for plastic materials in ASEAN reaching 395.95 million USD, up 28%, accounting for 17.15%); ranked second is the Chinese market with 387.03 million USD, up 20.3%, accounting for 16.76%; followed by the markets of India, Japan...

Bảng 15: Thị trường xuất khẩu nguyên liệu nhựa của Việt Nam 2022 

For current plastic materials, the total capacity of domestic enterprises only meets 20% of the demand for raw materials, Vietnam still has to import many types of plastic materials because the ability to supply input materials and factories for Vietnam's plastic material industry have not met the requirements in both quantity and price.

The dependence on imported plastic materials has been increasing input costs according to the price of imported raw materials and increasing exchange rate risks, reducing the initiative, competitiveness and difficulty in taking advantage of tariff preferences, because of regulations on origin of goods.

  In order to reduce dependence on foreign materials, diversify designs, improve competitiveness in quality and reduce product costs, in the coming time, plastic enterprises need to actively restructure investment or strengthen research capacity, focus on machinery investment,  according to new technology standards; reduce dependence on foreign materials, diversify designs, improve competitiveness in quality and reduce product costs.

- Vietnam's plastic industry is benefiting from the demand for investment and business shifts of multinational corporations. Strong investment in production from FDI enterprises and domestic enterprises has recently boosted the growth of production and export of plastic products.

- Vietnam's plastic industry has good competitiveness in some product lines such as packaging, household appliances and many businesses have invested in technology to produce products that meet the high requirements of markets such as the EU and the United States. Compared to many competitors, Vietnamese plastics have a number of advantages such as: having more competitive prices due to abundant cheap human resources, enjoying preferential tariffs EVFTA, GSP of the EU, access to cheap recycled materials.