Promising growth of Vietnam lawn and garden exports despite slow recovery of global economy
Exports to the US are projected to climb significantly this year; shipments to Middle East and Asia-Pacific region continue to boost the sector's earnings.
- (1888PressRelease) August 01, 2013 - HO CHI MINH CITY - The non-profit Hinrich Foundation released the Vietnam Sourcing Report: Lawn and Garden with the support of its partner in development, Global Sources (NASDAQ: GSOL).
The Report features profiles of 37 export suppliers with verified manufacturing and production capacity, plus descriptions, prices and packaging details for 197 popular export products ranging from planters to benches.
Report survey results show EU key target export market despite challenges
The survey of Vietnam Lawn & Garden manufacturers featured in the report shows:
* 52 percent of makers will decrease or maintain the quotes for the next year;
* 76 percent expect the sales to increase by 5 percent or more;
* 40 percent will target the EU market; and,
* 35 percent will focus on colorful and elaborate designs.
Monthly total capacity of featured suppliers is 1.12 million pieces.
"As a result of relatively steady demand in the Asia-Pacific region and Middle East, Vietnam suppliers anticipate export sales to increase this year," said Alex Boome, program director of the Hinrich Foundation.
"In respond to continued slow demand from main export markets, more than half of suppliers we surveyed in the Report plan to keep export quotes stable in the next six months," Boome said. "Readily available locally sources raw materials will help suppliers hold prices and attract new buyers."
One exporter featured in the report, Tri Nguyen Quoc, director of Anh Quoc, said: "Our strengths are well-designed products made of eco-friendly materials such as wood and bamboo. We always try to offer buyers not only high quality products but also excellent services."
Sourcing Reports for Vietnam, India, Cambodia, the Philippines, Indonesia and Nepal
The Vietnam Sourcing Report: Lawn and Garden is one of a series of Sourcing Reports in Asia.
Other Sourcing Reports available online are:
* VIETNAM: Wooden & Bamboo Furniture, Kitchenware, Bags, Baby & Children's Toys & Garments, Footwear, Ceramic & Porcelain, Garments, Home Decor, Fashion Accessories, Lawn & Garden, Lacquer ware, Indoor & Outdoor Furniture
* INDIA: Ceramics, Craft & Promotional Gifts, Glass & Metal Tableware, Fashion Accessories, Garments & Textiles
* CAMBODIA: Silk Fashion Accessories
* PHILIPPINES: Home & Garden Decor, Fashion Jewelry Accessories, Christmas Decorations, Indoor & Outdoor Furniture
* INDONESIA: Indoor & Outdoor Furniture, Footwear
* SOUTHEAST ASIA: Indoor & Outdoor Furniture
The next Sourcing Reports the Foundation expects to publish are Philippines Sourcing Report: Garments and Nepal Sourcing Report: Footwear.
About the Hinrich Foundation
The Hinrich Foundation believes sustainable global trade promotes economic prosperity and peace. It aims to encourage the private sector and governments to drive innovation and competitiveness in trade-related activities undertaken by individuals, companies, industries and countries by focusing on three programmatic areas:
- Trade related education & training: We sponsor educational opportunities for individuals who show a commitment to participating in or promoting innovative and competitive global trade. We offer Hinrich Global Trade Leaders Scholarships to students from Myanmar, Cambodia, Vietnam, Laos, India, China and the USA to study in Hong Kong, Thailand, the Philippines, Israel and the US. We give our scholars internships and career development opportunities in export related companies and organizations in ten countries.
- Export led job creation: The Foundation offers practical trade services to promote and coach producers on how to participate in global trade. Through the Developing Country Export Assistance Program, the Hinrich Foundation connects exporters in developing Asia with buyers worldwide.
- International trade policy research: the Hinrich Foundation believes that the health of the global economy and peace between nations depend on countries having productive trade relationships, which require open, fact-based dialogues. We initiate research, elicit opinions and disseminate information about global trade to encourage objective debate and balanced policy making in support of open, free, transparent and fair global trade.
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