ANALYSIS OF INDIA'S PLASTICS EXPORTS JUNE 2024

TREND IN OVERALL EXPORTS

India reported merchandise exports of USD 35.2 billion in June 2024, higher by 2.6% from USD 34.3 billion in June 2023. Cumulative value of merchandise exports during April 2024 – June 2024 was USD 110.0 billion as against USD 103.9 billion during the same period last year, reflecting a growth of 5.8%.

TREND IN PLASTICS EXPORT

During June 2024, India exported plastics worth USD 981 million, higher by 9.2% from USD 899 million in June 2023. Cumulative value of plastics export during April 2024 – June 2024 was USD 2,935 million as against USD 2,785 million during the same period last year, registering an increase of 5.4%. 

PLASTICS EXPORT, BY PANEL

In June 2024, export performance across various product categories continued to show substantial growth with:

• Plastic films and sheets achieving the highest surge, followed by 

• FIBC, woven sacks, woven fabrics, tarpaulin; 

• Floor coverings, leather cloth & laminates; 

• FRP & Composites;

• Packaging items - flexible, rigid; Consumer & houseware products;

• Cordage, fishnets & monofilaments;

• Medical items of plastics;

• Plastic pipes & fittings; Plastic raw materials; and 

• Human hair & related products

However, product panels like Writing instruments & stationery; and Miscellaneous products and items reported a negative growth in exports.

Exports of Consumer & houseware products witnessed a growth of 7.5% in June 2024 on account of higher sales of Builders ware of plastics nes (HS code 392590); Plastic moulded suit cases (42021220) and Other switches of plastic (85365020). Exports of Other switches of plastics reached an all-time high yet again in June 2024 due to strong sales to Germany

Medical-items-of-plastics Exports were also higher by 8.5% in June 2024 due to a rise in sales of Syringes with or without needles (901831); Cannulae (90183930) and Blood transfusion apparatus (90189032).

Export of Miscellaneous products & items plunged by 16.0% in June 2024 due to lower shipments of optical fibres, optical fibre bundles and cables (90011000).

Packaging items - flexible, rigid export increased by 9.5% on account of higher sales of Sacks and bags of polymers of ethylene (392321); and Other articles for the conveyance or packing of goods (392390) to the traditional markets, particularly, the USA.