In recent years, Vietnam’s export turnover of plastic materials to Turkey has experienced high growth.
The country earned US$7.1 million from exporting plastics in 2011 and US$20.7 million in 2013, 191.5% higher than 2011.
Yet, in the first four months of this year the nation earned just US$7.4 million, down 14%. The figure is expected to rise in the rest of 2014 due to market demands.
Every year, Turkey imports plastic materials worth over US$10 billion, offering a huge opportunity for exporters including Vietnam. However Vietnam’s Turkish plastics exports made up a small proportion (0.1%) of the country’s total imports, requiring Vietnamese businesses to make greater efforts in researching market, promoting trade and seeking partners.
The Ministry of Industry and Trade (MoIT) Import-Export Department said that Turkey has a population exceeding 75.6 million with a developed industry and high consumption demand for plastics Turkey now imports plastics from 100 nations in the world with 63% from Saudi Arabia, Germany, Belgium, the Netherlands, the Republic of Korea (RoK), Spain, Italy, France, the US and Vietnam.