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At the International Exhibition of Industrial Machinery and Equipment |
At yesterday’s International Exhibition of Industrial Machinery and Equipment for the plastic and rubber industry, many plastic businesses said that export orders in 2023 decreased sharply compared to previous years.
Chairman of the Vietnam Plastics Association Ho Duc Lam shared that in general, in the last months of 2023, the world economy has not seen much improvement. The global recession has made a great impact on exports, plastic product consumption continues to decline in major markets, and orders are sharply reduced.
According to statistics from the Vietnam Customs, the export turnover of plastic products in the first 9 months of 2023 reached US$3.711 billion, down 12.2 percent compared to the same period in 2022.
In September 2023 alone, the turnover of plastic product exports reached $416.4 million, down 10.8 percent compared to August 2023 but up 8 percent compared to September 2022. Generally, plastic product exports in the last months of 2023 will not be as expected.
However, according to President of Yorkers Group Judy Wang, the current economic crisis has many difficulties for the plastic industry, but in the long term, the industry has a remarkable annual growth rate, with a significant rate of 8 percent.
The exhibition attracted 625 businesses from 16 countries and territories such as China, India, Indonesia, Iran, Italy, Japan, Russia, Singapore, Korea, Spain, Thailand, and Turkey.
The exhibition takes place at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City’s District 7 from October 18 to October 21, 2023, organized by the Vietnam Plastics Association in coordination with relevant units. This is an opportunity for businesses to connect and trade and find solutions to restore production.
