U.S Exports of Plastic Scrap Dropped Further by 24%

SEATTLE (Scrap Monster): The U.S. exported $227.04 million worth of plastic scrap during the initial five months of the current year, in accordance with the latest trade statistics released by the U.S. Census Bureau. The exports during this period declined significantly by over 24% when compared with the corresponding five-month period in 2017. The plastic scrap exports had totaled $300.52 million in Jan-May ’17.

The top five foreign markets for US plastic scrap exports were Malaysia, Thailand, Canada, Vietnam and India. The U.S. exports to these five countries totaled $142.89 million, accounting for nearly 63% of total exports during the quarter. The largest export destination was Malaysia with imports of $38.69 million plastic scrap from the U.S, representing 17% of total export market share. The imports by Thailand and Canada totaled $30.83 million and $28.42 million respectively. Vietnam ($22.64 million) and India ($22.31 million) were the other major importers of U.S. plastic scrap exports.

ALSO READ: New Inspection Policy to Create Additional Burden on Exporters

Meantime, the U.S. imports of plastic waste and scrap surged higher by 13% to total $97.23 million during the first five months of 2018. The imports had totaled only $85.85 million during the corresponding period last year.

The key supplier-Mexico accounted for shipment of almost 41% of the plastic scrap imported by the U.S. The imports from Mexico totaled $4.03 million during Jan-May ‘18. The second largest exporter was Canada. The imports from the neighboring country recorded year-on-year jump of more than 5% to total $20.23 million. In third place was China with $4.5 million. The other major suppliers were Honduras ($2.81 million) and Japan ($2.63 million). The supplies from the above five countries accounted for more than 72% of total imports by the US.

The U.S. plastic scrap imports had totaled $221.52 million during the entire year 2017.