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Euro Depreciation &Nbsp; Footwear Exports To EU Or Atrophy

2010/8/7 10:25:00 43

Be engaged in

Footwear export

Mr. Li has added a lot of export orders this year, but he is still unhappy.

2 months ago, his company exported a number of textiles to Europe, but when it checked out, it suddenly discovered that the contract was quoted in euros. Because the euro exchange rate continued to decline, it quietly evaporated nearly 100 thousand yuan profit.

As one of China's main export markets,

European Union

The trade position should not be underestimated.

Especially when the financial crisis broke out, the strength of the euro has won the favor of many international traders, and has also made some export enterprises in Wenzhou accustomed to the euro settlement.

According to statistics, Wenzhou's exports to the EU increased by 24% in the 1-6 months of this year, and exports to the European Union accounted for 27.5% of Wenzhou's total exports.

From the first half of the year's export data, the growth rate of exports to the European Union is 5.3% lower than that of Wenzhou's overall export growth.

However, the euro, which has always been valued by Wenzhou enterprises, has entered the path of depreciation when Greece's debt problem is exposed. This has also become the beginning of the nightmare of those who are accustomed to using the euro to settle accounts.

The euro continued to fall against the RMB exchange rate, falling nearly 15% in the past six months, and the worst performance in all non US currencies.

Some major export enterprises in Wenzhou indicated that because of the settlement of the US dollar by some enterprises, the sustained depreciation of the euro had little direct impact on their import and export trade, but in 5 and June, the European Union's

Export orders

Has begun to decrease.

Wenzhou's exports to the EU are mainly low value-added traditional products, such as shoes, clothing, glasses, etc., and European enterprises that need to import goods from China may lower prices or even reduce orders.

Export companies generally expressed concern that, if the euro continued to fluctuate, exports to Europe would just shrink.

Related supplements:

Rachid, Egypt's minister of trade and industry, said recently that the Egyptian government would tighten quality control over imported commodities and would ban imports of goods that did not meet quality standards into the Egyptian market.

Rachid revealed that the key commodities for the next stage were motorcycles, furniture, clothing and household appliances.