[Information] Foreign trade exports have grown strongly, and the toy industry has seen explosive orders!

by:Ennas      2022-02-03
According to the China Purchasing Managers Index (PMI) released by the National Bureau of Statistics on November 30, 2020, China's Manufacturing Purchasing Managers Index (PMI) in November was 52.1%, an increase of 0.7 percentage points from the previous month, a record high for the year and for 5 consecutive months Operating at 51% and above. The strong growth in exports supported the recovery of the manufacturing PMI in November. In November, the new export order index and the import index were 51.5% and 50.9%, respectively 0.5 and 0.1 percentage points higher than that in October, both of which were high points during the year. Export growth in November was driven by three major factors: the recovery of global demand, the supply substitution effect in Europe and the United States, and the slow recovery of supply capacity in emerging economies. Although the development and production process of the new crown pneumonia vaccine is accelerating, the time for its large-scale vaccination seems to be later than expected. The trend of global epidemic spread continues, but the economy continues to restart. This has led to a widening gap in global supply and demand, including emerging economies. China's exports are the main channel to fill this gap. Among these export demands, export orders for small household appliances, furniture, toys, bicycles and other industries have increased significantly. Many provinces along the eastern coast of China have seen explosive export orders for foreign trade companies. Domestic bicycles, which have become a sunset industry, are very popular overseas this year. According to statistics from the General Administration of Customs, the export value of bicycles in the third quarter reached US$1.1 billion, a record high in a single quarter in the past 25 years. The China Bicycle Association revealed at the 2020 China Bicycle Industry Conference held recently that this year's industry revenue will exceed 360 billion yuan, a year-on-year increase of 10%. Exports to overseas markets such as Europe, America, Southeast Asia and other overseas markets will continue to maintain a high growth momentum. As the world's largest toy exporter, China's toy exports also ushered in good news in the second half of the year. Since July, the four-month sales volume has more than doubled from the first half of the year. It is expected that the sales volume in the fourth quarter of this year may reach three times that of the first half of the year. According to data from the China Toys and Baby Products Association, in July, the export of traditional toys reached US$3.54 billion, a year-on-year increase of 21.2%; in August, the export value reached US$3.94 billion, a year-on-year increase of 2.6%; in September, the export value reached US$4.11 billion. A year-on-year increase of 7.9%. Behind the basic return of the manufacturing industry to normal operations is the effective control of China's new crown pneumonia epidemic and the rapid implementation of the resumption of work and production, indicating that my country's economic and social development has achieved remarkable results and my country's economy has continued to recover steadily. However, the current uncertainty in the development of the global market is very strong. Chinese foreign trade companies should seize the current opportunity to complete export orders. At the same time, we must take precautions and be fully prepared for possible changes in the future market. Source: Tradesns
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