Yiwu exports to Russia and EU toy orders fell rapidly in the first 5 months

by:Ennas      2021-12-27
From January to May 2015, Yiwu Inspection and Quarantine Bureau accepted a total of 10,670 batches of toys for export, with a value of 56.803 million U.S. dollars, an increase of 97.23% and 392.14% year-on-year respectively. However, due to the continued depreciation of foreign currencies, especially the ruble and the euro, the export of Russian toys was accepted during the same period. A total of 409 batches with a value of 14.18 million US dollars, a year-on-year decrease of 31% and 4.2%, the number of toy batches exported to the EU during the same period dropped by 60.3% year-on-year. The continuous depreciation of the ruble and the euro means that importers from Russia and the European Union have to pay more in their own currencies when executing the signed trade contracts. Currency depreciation has also virtually increased the prices of Chinese goods. In addition, inflation It has also reduced the purchasing power of local residents and reduced the demand for Chinese goods, which has led to a reduction in the number of corporate orders, which has led to a rapid decline in toy exports to the European Union and Russia.   Yiwu Inspection and Quarantine Bureau reminds production and export companies that they should always pay attention to changes in the international political situation, choose customers with high integrity, and reduce risks by increasing the proportion of advance payments. In case of emergencies, they should contact relevant departments in time to avoid losses, accelerate the construction of innovation capabilities, solve the problems of low resource utilization, backward comprehensive utilization technology, and low degree of automation, and enhance competitiveness.
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