The Financial Express

Export of plastic products see nearly 30pc rise

Export of plastic products see nearly 30pc rise

The export of plastic products has witnessed an uptrend as its earnings reached $57.06 million in the first five months (July-November) period of the current fiscal year (FY22), which was also 29.8 per cent higher compared to the corresponding period of the previous fiscal (FY21), BSS reports.

The export earnings from plastic products fetched $43.96 million during the July-November period of the previous fiscal year.

Earlier, the government set a target of attaining $127 million from the export of plastic products in the current fiscal year.

According to the Export Promotion Bureau (EPB), out of the total plastic products, the export of PVC bags bagged $9.73 million during this five-month period while that of plastic waste earned $6.34 million during this period.

Talking to BSS, Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) President Shamim Ahmed said that the Bangladeshi plastics goods are exported to some 23 countries including the USA, the UK, Germany, France, Poland, Spain and Canada while various items like house décor items, automobiles, medical equipments and other supportive products of export industries are being made from plastics.

"Many countries are now shifting their focus to Bangladesh for plastic products through reducing their dependency on China. As a result, the export of Bangladeshi plastic goods is increasing day by day," he opined.

Shamim said like the other industries, the plastic sector faced difficulties at the very beginning of the COVID-19 pandemic, but the plastic sector has now made a turnaround due to the timely steps of the government and the stimulus packages announced by the government.

He said had there been no price increase of raw materials in the international market, the export earnings could have been much higher during this period.

The BPGMEA President said apart from direct export of plastic products, plastic products worth $700 million are being exported every year from Bangladesh as garment accessories.

According to the Association, there are some 5,000 small, medium and large plastic industries across the country manufacturing products in 15 categories. These products include polybags, hangers, plastic clips, buttons, dolls, balls, chairs, tables, dining tables, various types of recks, buckets, bathtubs, jugs, mugs, paper wets, scales, ball point and file covers.

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