India's plastic exports rise over 14% on-year to $997 million in February
Plastic Export Promotion Council (Plexconcil) recently published an in-depth report that thoroughly analyses India's plastic export trends for February 2024. Drawing upon data from the Ministry of Commerce & Industry, Government of India, the study reveals that India reported its highest-ever monthly export of made-up fishing nets during February 2024. The cumulative value of merchandise exports during April 2023 – February 2024 was $395 billion as against $409.1 billion during the same period last year, reflecting a decline of 3.5%.
Overview of Overall Plastic Exports
In February 2024, India exported plastics worth $997 million, an increase of 14.3% from $872 million in February 2023. The cumulative value of plastics exports during April 2023 – February 2024 was $10,433 million, as against $10,911 million during the same period last year, registering a decline of 4.4%.
Analysis of Plastics Export Trends
In the month of February 2024, significant export growth was witnessed across majority of the product panels such as Plastic raw materials; Plastic films and sheets; FIBC, Woven sacks, Woven fabrics, Tarpaulin; Floorcoverings, leathercloth & laminates; Packaging items — flexible, rigid; FRP & Composites; Cordage, fishnets & monofilaments; Medical items of plastics; and Plastic pipes & fittings. However, panels like Writing instruments & stationery; Consumer & houseware products; Human hair & related products; and Miscellaneous products & items faced challenges in achieving growth during the same period.
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