Re-export Base of China Ball Bearings---Vietnam
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Sep 10,2007
Re-export Base of China Ball Bearings---Vietnam
Nowadays ball bearing becomes the key product to export, for its easy processing and lower technological contents. With the rapid economic development, demands from Vietnam market for ball bearings will increase greatly.
I. State quo of exporting to Vietnam
Firstly, exports of China ball bearings increased from 5.73 million sets in 2000 to 33.909 million sets in 2006. The exports in 2007 keep on increasing and reached 23.148 million sets for the first half of 2007.
Secondly, the export average price fluctuates, ranging from 0.27 $/set to 0.35$/set. The highest average price in 2005 hit 0.35$/set, while the lowest average price in 2000 and 2007 was 0.27 $/set.
II. Market Analysis
1. Huge potentials of re-export trade
As Vietnam joined WTO and carried out open door policy, many manufacturing industries transferred to Vietnam, where would become a main manufacturing base of new tech and labor-intensive products such as miniature household electrical appliances, computers and other electromechanical products. As the key parts for machines, ball bearing was offered a great opportunity for development with rapid increase of electromechanical industry.
Because the industry started relatively late and some parts need to import, Vietnam has become the base for some products to re-export. Through this springboard, it can explore the high-added value bearing market in Europe and America.
2. Demands of the domestic market
In recent years, there are great demands for machinery in Vietnam. However, they have to rely on importing, for the domestic industries are still in an early stage. It is estimated that Vietnam annual machinery market will be about $ 7 billion. With the increase of the machine capacity, the demands for machinery parts will increase, too.
3. Low tariff
According to “the Framework Agreement on Comprehensive Economic Co-operation between the People's Republic of China and the Association of Southeast Asian Nations", China and Vietnam will gradually cancel tariff for most products and build free trade areas till 2015, which will offers opportunities for export of China products.
4.Advantage of China products
In Vietnam market, our main competitor is Japan. Comparing with Japan, the price of our products is lower and our transportation is more convenient. Due to these reasons, Vietman prefer to choose China products. While exporting to Vietnam, we also risk antidumping of Vietnam products, for the rise of its machinery parts.
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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