From January to July, China's total export of plastic products was 61.53 billion US dollars, an increase of 7.2%
In July 2024, the output of enterprises in China's plastic products industry has declined to a certain extent. According to the National Bureau of Statistics, the output completed in the month was 6.319 million tons, down 4.6 percent compared with the same period last year. This downward trend is not only in July, the cumulative production from January to July also showed a slight decline, the cumulative completed production of 4201.2 million tons, down 0.3% year-on-year. However, from the overall trend, the plastic products industry is still trying to adapt to market changes and seek new development opportunities through innovation and transformation.
In the context of increasing environmental awareness, the plastic products industry is gradually paying attention to sustainable development, and constantly introducing new processes, new materials and new products to meet the needs of consumers. Digital transformation is also helping industries improve productivity and reduce costs, contributing to the smooth running of the economy. For example, from January to April 2024, the national plastic products industry output reached 23.407 million tons, an increase of 1.0%. In addition, from January to June 2024, the output was 36.194 million tons, an increase of 0.5% year-on-year.
Although the production in July declined, but from the first half of the overall situation, the plastic products industry still maintained a certain growth trend. This shows that despite the challenges, the industry is still actively taking steps to adapt to changes in the market and environment.
In July, the top ten provinces in the country in terms of plastic product production were Guangdong, Zhejiang, Hubei, Jiangsu, Fujian, Shandong, Anhui, Hebei, Hunan and Sichuan. According to subregional statistics, in July 2024, the output of plastic products in the eastern region was 4.172,000 tons, accounting for 66%; The output of plastic products in the central region was 1.312 million tons, accounting for 20.8%; The output of plastic products in the western region was 718,000 tons, accounting for 11.4%; The output of plastic products in Northeast China was 116,000 tons, accounting for 1.8%.
In July 2024, the trade performance of China's plastic products industry showed a positive growth trend. Exports of plastic products reached $8.47 billion in the month, up 1.9 percent from a year earlier, according to the General Administration of Customs. Imports were not far behind, rising by 4.0 percent year-on-year to $1.55 billion. This growth is not a flash in the pan, the cumulative data of the first seven months of this year shows that the total export of plastic products reached 61.53 billion US dollars, an increase of 7.2%; Imports also reached $10.28 billion, up 4.3 percent year on year. The string of growth figures resulted in a trade surplus of $51.25 million.
This growth trend is closely related to the gradual recovery of the global economy and the slow growth of market demand. China's plastic products industry has maintained a strong competitiveness in the global market with its advantages in global layout, technological innovation and product diversification. At the same time, enterprises in China's plastic products industry are also actively responding to the international trend of environmental protection and sustainable development, and further expanding the international market by researching and developing degradable plastics and improving the environmental protection standards of products.
Taken together, the trade data of China's plastic products industry in July 2024 and the first seven months reflect the overall export growth trend of the industry, as well as its competitiveness and development potential in the global market.
