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After several rounds of factory visiting and interviews, changes in global foreign trade purchase orders of wood-based panels and furniture in the second half of 2022

After several rounds of factory visiting and interviews, changes in global foreign trade purchase orders of wood-based panels and furniture in the second half of 2022

A while ago, everyone talked about the transfer of China’s foreign trade purchase orders for wood-based panels and furniture to Vietnam and other Southeast Asian and South Asian countries, which has a great impact on China. Some domestic regions have stabilized foreign trade orders through charter flights and cloud exhibitions, but the effect is not obvious. Many small and medium-sized enterprises have no orders, workers are on holiday, and some foreign trade enterprises have closed down.

However, statistics from the Ministry of Commerce of China show that China’s exports have increased significantly.

At the same time, the exports of Vietnam, India and other countries have reached record highs and the growth rate has been expanding. In particular, labor-intensive industries such as wood-based panels and furniture have lost a lot of orders from China to Vietnam, India and other countries, and some industries are close to 60%.

However, with the high inflation in the United States and Europe and the decline in consumer demand, traders originally hoarded a large number of goods to prevent transportation difficulties. Now the international container index has dropped significantly, even to the level before the outbreak.

Overseas consumers have started the degradation mode of “unnecessary consumption”, resulting in a drop in terminal demand and a sharp drop in orders from sellers and foreign trade factories. The decline in international demand has not only affected China, but also other countries. According to Vietnamese media reports, after six months of strong recovery in the first half of the year, in the second half of the year, many factories in Vietnam had orders shortage, so they had to shorten production time, stop recruitment and reduce labor force. At present, there are only 3 shifts a week, and some production lines are adjusting the original 6-day shift to 4-day shift. In previous years, the period from June to July was the off-season, but there was no overtime and no reduction in working days.

Vietnam and China plywood and wood-based panel Association said that the production of wood-based panel and furniture industry not only decreased by more than 50% due to shutdown.

Vietnam is the world’s second largest exporter of man-made panels and furniture after China. However, at present, the country is still facing a surge in costs. The new orders in July decreased by 40% compared with the same period of the previous year.

It can be seen that the decline in orders is a global phenomenon, not because the original Chinese orders have been transferred away. Because of its advantages in industrial chain and large domestic market, China maintained a trade surplus with all major countries in July. In particular, South Korea, which has had a trade surplus with China for 28 years due to the international industrial division, also started a trade deficit with China. It is hoped that in the future, the mainland can also change the deficit situation with Taiwan Province.

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