HS Code:
The Plastics category, classified under HS Code 39, encompasses a wide range of products including raw plastic materials (polymers), plastic articles, and semi-finished plastic goods. This category includes items such as polyethylene, polypropylene, PVC, and various plastic packaging materials, containers, and household items. Plastics are integral to numerous industries, including packaging, construction, automotive, and electronics, due to their versatility, durability, and cost-effectiveness. Global trade in plastics is driven by manufacturing hubs, consumer demand, and recycling initiatives, though it faces challenges from environmental regulations and sustainability concerns.
Total Trade Volume
USD 650 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
25% (imposed by certain developing countries on imported plastic goods)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Shift towards sustainable plastics
Increased demand for bioplastics and recycled plastics due to environmental regulations and consumer awareness, pushing manufacturers to innovate.
2021-2023
Rising production in Asia-Pacific
Significant growth in plastic production and export from countries like China and Vietnam, driven by low labor costs and high demand from global markets.
2020-2022
Decline in single-use plastics trade
Global bans and restrictions on single-use plastics have reduced trade volumes in this segment, redirecting focus to reusable and compostable alternatives.
2019-2023
The European Union introduced a plastic tax on non-recycled plastic packaging waste, aiming to reduce plastic pollution and fund recovery efforts.
January 2021
Increased costs for manufacturers and exporters of plastic packaging to the EU, encouraging a shift towards recycled materials.
China's National Sword policy banned the import of most plastic waste, redirecting global plastic recycling flows to Southeast Asian countries.
January 2018 (ongoing impact)
Disrupted global recycling markets, increased plastic waste accumulation in exporting countries, and spurred domestic recycling initiatives.
UN member states are negotiating a legally binding treaty to address plastic pollution, focusing on production limits and waste management.
2022-2024 (ongoing)
Potential for new trade regulations and restrictions on plastic goods, influencing global supply chains and market dynamics.