Plastics exports jump 31.6 per cent in H1

Source: The Hitavada      Date: 06 Nov 2018 10:06:51


 

 

Business Bureau,

INDIA’S plastics exports posted a growth of 31.6 per cent at USD 4.59 billion during the period April - September 2018 (H12018-19) as against USD 3.48 billion in same period during H1 2017-18, registering a faster pace of growth than the overall merchandise export growth from India, as per the Plastics Export Promotion Council (Plexconcil).


During H1 2018-19, India reported merchandise exports worth USD 164.04 billion, up 12.5 per cent from USD 145.75 billion in H1 2017-18. According to Plexconcil, plastics formed 2.80 per cent of India’s overall merchandise exports in H12018-19. The growth in India’s plastics export has been primarily boosted by higher shipment of plastic raw materials, plastic sheet, film, plates, and packaging materials. During H1 2018-19, 23 out of the top 25 destination countries recorded year-on-year growth in plastics export from India. Exports to China, Vietnam and Mexico witnessed high growth rates ranging between 70-140 per cent during the H1 2018-19 period, association said in statement.


China, United States and United Arab Emirates continue to be top-3 destinations for India’s plastics products. These three countries accounted for 27.5 per cent of India’s plastics product exports during H1 2018-19.