Export earnings from plastic products had fetched $43.96 million during the July-November period of the previous fiscal year

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) — a 29.8% year-on-year growth.

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

The government has 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), of the total plastic product exports, the export of PVC bags bagged $9.73 million during this five-month period while that of plastic waste earned $6.34 million.

Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) President Shamim Ahmed said that Bangladeshi plastic goods are exported to 23 countries, including the US, the UK, Germany, France, Poland, Spain, and Canada. 

Various items, like house décor items, automobiles, medical equipment and other supportive products of export industries, are make up for majority of the plastic export from Bangladesh.

"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," Ahmed said.

He explained that like the other industries, the plastic sector faced difficulties at the very beginning of the Covid-19 pandemic, but the things have since turned around due to the timely steps of the government and the stimulus packages.

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

The BPGMEA president said that 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 factories 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 pens, and file covers.

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