Washington-based Plastics Industry Association reported that Canada and Mexico were the largest export destinations for US plastics in 2019. Last year, exports from the US plastics industry stood at $12.4 billion and $15.3 billion to Canada and Mexico, respectively. According to the report, the US plastics industry posted a trade surplus of $0.4 billion last year, decreasing from $0.5 billion in 2018.
The trade surplus with Mexico was the largest at $9.8 billion. However, it registered a $13.7-billion trade deficit with China, the third-biggest export destination for US plastics. In resins, the US plastics industry reported a trade surplus of $2.5 billion with China. The report expects Canada and China to remain the largest export destinations for US plastics thanks to an established supply chain and the United States Mexico Canada Agreement (USMCA) free trade pact.
The report found that the US consumed $232.4 billion worth of plastics products in 2019, growing 1.0% from a year earlier. Total plastics industry exports and imports decreased by 2.9% and 2.8%, respectively, due to tariffs, trade uncertainty and slowing global economic growth in 2019. In dollar terms, US resin exports also fell 2.0% in 2019.
