Bangladesh’s Plastic Industry has observed growth in earnings of plastic goods exported in the last five months (July to November of 2021). According to BSS (Bangladesh Sangbad Sangstha), export earnings have increased by 29.8 percent to $57.06 million in this period compared to the same period of the previous fiscal year (FY’21). The Export earnings from plastic goods had brought $43.96 million in the same period of last year. Earlier this year, the government set a target of attaining $127 million from the export of plastic products in the current fiscal year.
According to the BSS report, Shamim Ahmed, president of the Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) has said that Bangladeshi plastic products are exported to some 23 countries including the USA, the UK, Germany, France, Poland, Spain, and Canada while various items like house decor items, automobiles, medical equipment, and other supportive products of export industries are being made from plastics. He also said, “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.”
According to Export Promotion Bureau (EPB), out of the total plastic products, PVC bags alone bagged $9.73 million, and the earning from plastic waste was around $6.34 million during this five month period.
According to the BSS report, Shamim Ahmed has said that, apart from direct export of plastic products, plastic products worth $700 million are being exported every year from Bangladesh as garment accessories. He added that, 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 thinks that had there been no price increase of raw materials in the international market, the export earnings could have been much higher during this period.
According to BPGMEA, 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.
Leave a Comment