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Yiwu Small Commodity Wholesale Exports to Africa Are Heating Up

In recent years, with the rapid economic development of Africa, the increase of residents’ income and the increase of Chinese investment in Africa, Africa has taken an increasingly important position in China’s foreign trade exports.

1. The traditional labor-intensive products of Yiwu Small Commodity Wholesale Market play an important role

In the second district of China Yiwu International Trade City, a foreign businessman from South Africa is purchasing hardware and other commodities. He said that since he came to Yiwu in 2009, he has traveled back and forth between Yiwu and South Africa three to four times a year, mainly purchasing hardware tools, textiles and other commodities. For him, Zhejiang Yiwu China small commodities are cheap and good quality, which is very suitable for their local consumer market.

From the perspective of export commodities, exports to Africa are dominated by traditional labor-intensive products, such as clothing, plastic products, shoes and other commodities.

Mr. Zhao is an operating household in the second district of Yiwu International Trade City, China. He mainly sells steel shovels, shovels, hoes, steel forks, rakes and other hardware tools. The goods are exported to Africa, the Middle East, Southeast Asia and other regions, of which African orders account for about 30%. Mr. Zhao said that many countries in Africa have developed well in agriculture, and there is a greater demand for agricultural tools and products. Grasping the African market is essential for developing commodity sales. At present, African orders are carried out in a two-step manner. The deposit is first paid. After receiving the deposit, the factory will produce according to the customer’s request, and the remaining payment will be paid before shipment.

In addition, a certain textile fabric, yarn and other product operators said. At present, the African market has great potential, and there are more foreign trade orders from Egypt. But more orders does not mean increased profits. On the one hand, because foreign businessmen in Africa are more price-sensitive, and there is price competition in the market, profits are becoming thinner and thinner; on the other hand, the political situation in some parts of Africa is unstable, so there are many uncertainties and the risk of orders is high, so orders are accepted carefully.

2. Opportunities and challenges coexist in Yiwu small commodities market

According to the relevant person in charge of Yiwu, the African market has huge potential, and more and more export companies are beginning to focus on exploring the African market and discovering new profit growth points. However, the emerging market of China’s small commodities in Yiwu, Zhejiang has high risks, and the existing policy and financial risks have become prominent problems for export companies to explore overseas markets.

It is understood that Egypt and South Africa have higher country risks in the African market. The relevant person in charge of the China Yiwu Service Department reminded that Yiwu export companies need to improve foreign trade through multiple channels. While expanding the development of the emerging market for Chinese small commodities in Yiwu, Zhejiang, they must pay close attention to the buyer’s ability to purchase foreign exchange and pay and the risk judgment of the downstream market.

At the same time, Yiwu Small Commodity Wholesale Market has made more fuss about products, through innovation and optimization, to enhance the added value of products, strengthen the enterprise’s right to speak in the way of goods transactions, and adopt relatively safe trading methods; export enterprises need to form a sense of risk transfer and use policy-based export credit insurance tools prevent foreign exchange collection risks when opening up overseas markets.

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