India’s polyethylene-sheet deficit widened 80.24% in CY25

India’s polyethylene-sheet deficit widened 80.24% to United States dollars (USD) 420.87 million in calendar year (CY) 2025. Imports rose 46.79% to USD 620.72 million, while exports increased 5.55% to USD 199.85 million, widening the gap from USD 233.51 million in CY24.

Why did India’s polyethylene-sheet deficit widen 80.24% in CY25?

India’s polyethylene-sheet deficit widened because the USD 197.87 million increase in imports during CY25 was almost 19 times the USD 10.51 million increase in exports. Polyethylene, or PE, sheets include products made from polymers such as high-density polyethylene (HDPE) and low-density polyethylene (LDPE), used where flexibility, chemical resistance and low-temperature toughness are required.

The 46.79% growth rate in the trade data applies to PE-sheet imports, rather than to the trade deficit. Imports climbed from USD 422.85 million in CY24 to USD 620.72 million in CY25, while exports rose from USD 189.34 million to USD 199.85 million. Subtracting exports from imports produces a CY25 deficit of USD 420.87 million, compared with USD 233.51 million a year earlier.

The CY25 outcome reflects faster growth in overseas purchases than in foreign sales. The disclosed trade data describes India as import-dependent for cost-competitive and specialised PE-sheet products, while the 5.55% export increase did not offset the 46.79% increase in imports.

How did India’s PE and PP sheet trade change from CY24 to CY25?

India’s PE sheets became more import-dependent in CY25, while polypropylene, or PP, sheets remained in trade surplus despite lower exports and higher imports. The contrast is shown by the trade balances and the different direction of export growth in the two polymer categories.

PE-sheet imports exceeded exports by more than three times in CY25, with imports of USD 620.72 million against exports of USD 199.85 million. In CY24, imports were about 2.23 times exports, based on USD 422.85 million of imports and USD 189.34 million of exports. This widening ratio increased the PE-sheet deficit from USD 233.51 million to USD 420.87 million.

PP sheets followed a different pattern because exports still exceeded imports in CY25. PP-sheet exports fell by USD 37.49 million, from USD 401.26 million in CY24 to USD 363.77 million, while imports increased by USD 52.21 million to USD 175.48 million. The resulting trade surplus declined by USD 89.70 million to USD 188.29 million, but did not turn into a deficit.

Where was India’s PE sheet trade concentrated in CY25?

India’s PE-sheet imports were concentrated in three Asian suppliers, which together accounted for 74.36% of CY25 imports. Vietnam supplied USD 165.75 million, or 26.70%; China supplied USD 158.76 million, or 25.58%; and Thailand supplied USD 137.04 million, or 22.08%, of the USD 620.72 million total.

The remaining PE-sheet import base was smaller by comparison. The United States accounted for USD 40.30 million, or 6.49%, Korea supplied USD 26.96 million, or 4.34%, and other origins represented USD 91.91 million, or 14.81%. The 74.36% combined share for Vietnam, China and Thailand shows that almost three quarters of India’s PE-sheet import value came from three suppliers.

PE-sheet exports were more geographically distributed than imports, although the United States was the largest individual destination. The United States bought USD 34.01 million, or 17.02%, of India’s CY25 PE-sheet exports; the United Kingdom bought USD 25.40 million, or 12.71%; and Spain bought USD 13.75 million, or 6.88%.

Other destinations accounted for USD 109.02 million, or 54.55%, of the USD 199.85 million PE-sheet export total. South Africa represented 5.05% and the United Arab Emirates represented 3.79%. No individual PE-sheet export market matched Vietnam’s 26.70% share of India’s import sourcing.

Why did India’s PP sheet surplus narrow despite remaining positive?

India’s PP-sheet surplus narrowed because export receipts fell 9.34% while import expenditure rose 42.35% in CY25. PP sheets are used in packaging and logistics applications for stiffness, low weight and recyclability, but the trade balance was less favourable in CY25 than in CY24.

Exports decreased to USD 363.77 million in CY25 from USD 401.26 million in CY24. Imports rose to USD 175.48 million from USD 123.27 million over the same period. Since both the USD 37.49 million export decline and the USD 52.21 million import increase reduced the balance, the surplus moved from USD 277.99 million in CY24 to USD 188.29 million in CY25.

The United States remained the largest PP-sheet export market, buying USD 51.49 million, or 14.15%, of CY25 exports. The United Kingdom accounted for USD 25.24 million, or 6.94%; the United Arab Emirates accounted for USD 21.64 million, or 5.95%; and Mexico accounted for USD 20.14 million, or 5.54%.

PP-sheet imports were more concentrated in China than PE-sheet imports were in any one source. China supplied USD 80.58 million, or 45.92%, of India’s USD 175.48 million of CY25 PP-sheet imports, while Germany and Japan supplied 6.74% and 6.68%, respectively. China’s share was 19.22 percentage points higher than Vietnam’s 26.70% share of PE-sheet imports.

What does the PE and PP divergence show about India’s sheet trade?

India’s CY25 trade data shows that PE and PP sheets had materially different external trade positions despite both recording import growth above 40%. PE sheets had a USD 420.87 million deficit after import growth of 46.79%, whereas PP sheets retained a USD 188.29 million surplus despite a 42.35% increase in imports.

Export performance was the principal difference between the two categories. PE-sheet exports increased 5.55% to USD 199.85 million, whereas PP-sheet exports declined 9.34% to USD 363.77 million. PP nevertheless exported USD 163.92 million more than PE in CY25, which kept the PP category in surplus despite its import increase.

The source also reports that production of PVC, polystyrene, polycarbonate and other plastic sheets declined from 121,319.8 tonnes in 2019-20 to 108,896.3 tonnes in 2024-25. This production series is broader than the PE and PP trade classifications, so it does not establish production volumes for either polymer category, but the 2024-25 total remained below the 2019-20 level.

Conclusion

India’s CY25 sheet-trade picture was split by polymer. PE sheets recorded a USD 420.87 million deficit as imports rose by USD 197.87 million and exports rose by only USD 10.51 million, while PP sheets retained a USD 188.29 million surplus despite lower exports and higher imports. The results show that external trade outcomes differed materially between the two sheet categories.

Later trade data will show whether the CY25 divergence persists through changes in import sourcing and the relative pace of imports and exports. Vietnam, China and Thailand represented 74.36% of PE-sheet imports in CY25, while China alone supplied 45.92% of PP-sheet imports; subsequent data on those shares, trade values and the broader 2024-25 production trend will clarify whether those patterns continue.