This year’s Global Trends Report emphasizes the positive developments in the U.S. plastics industry’s global trade. The plastics trade deficit decreased as export growth outpaced import growth in 2022. The U.S. maintained its position as the world’s second major player in global plastics trade, following China. Furthermore, the gap between both countries, in terms of trade volume, has notably narrowed. The increase in apparent plastics consumption in the U.S. reaffirms the value of plastics to businesses, consumers, and the economy as a whole. Notably, U.S. plastics industry trade in H1 2023 shows a trade surplus—a positive development, especially given the challenges in 2020 due to the pandemic that resulted in a plastics trade deficit after many years of a surplus.