Revenue from plastic exports is expected to rise by 11-13.5 percent to hit US$2 billion in 2013, according to the Vietnam Plastics Association (VPA).
Export earnings in 2012 reached US$1.98 billion, an increase of 42.2 percent over 2011. Of the figures, plastic products accounted for US$1.58 billion and plastic materials for US$397 million.
Japan has been Vietnam’s largest market for plastic goods for five successive years with the highest export growth in 2012, up 24 percent from a year earlier, accounting for 22.6 percent of export turnover.
The country’s plastic sector strives to become an advanced industry, producing highly competitive and environmental friendly products of various types to meet the demand in the domestic market and increase the quantity of value added goods for exports.
By 2020, the industry plans to shift its structure to reduce the production of plastics for household goods and packaging and increase those for building materials and technology.
However, the association said Vietnamese producers and exporters to the Japanese market could still make use of untapped potential for further growth, by increasing production, improving product quality and diversifying product designs.