Global COVID-19 is still spreading and developing in many places. “Counter globalization” has aggravated the twists and turns of trade. China’s sports and fitness equipment exports also show some changes different from previous years.
Taking the treadmill as an example, from March to September 2020, the compound growth rate of China’s export volume is about 18%, and the whole year is expected to exceed US $1.2 billion, reaching a record high.
From January to September 2020, compared with the whole year of 2019, China’s export of treadmills to other countries or regions increased by about US $90 million, an increase of 11%. The world is so big. Who is the growth in the end?
The growth rate of North Africa, West Africa, Southeast Asia and South America was significantly higher than the world average of 11%, and the countries with the highest growth rate were Singapore, with an increase of 180%; UAE increased by 87%; Algeria increased by 82%; Israel increased by 80%; Kuwait increased by 76%; Oman increased by 82%.
Spain, Sweden, Indonesia, New Zealand, Iran and Iraq decreased by more than 50%;
The United States increased by 11%, with an increase of $30.94 million; Southeast Asian countries increased by 19%, with a total increment of more than US $16 million; EU countries increased by 37%, with an increase of US $18.38 million; The number of one belt, one road country increased by 16%, and the increment was 31 million 920 thousand US dollars.
From 2017 to 2020, Southeast Asia led the world with a compound growth rate of 16%, of which Malaysia and Thailand attracted the most attention. Compared with Vietnam, Singapore and Indonesia, the two countries had obvious growth advantages. The compound growth rate of the total amount of treadmills imported from China was as high as 26.9% (the total amount of imports from China from January to September 2020 was 14.37 million) and 23.9% (the total amount of imports from China from January to September 2020 is 34.78 million), and the treadmill market of the two countries is relatively mature. At the same time, regardless of the degree of population youth or development, it will be a large consumer market to be developed in the future. Mature market + future potential, I believe that high-quality and high-tech innovative products will be greatly favored.
No matter how the global trade market changes, scientific and technological innovation and high-quality development are the strongest foundation for China’s sports and fitness equipment enterprises to deeply participate in the international market competition in the future.
Post time: Oct-25-2021