Article from 2Firsrts China, edited by Mandy - In 2022, Shenzhen will export 46.09 billion yuan of electronic cigarettes, accounting for 68.3% of the country's total export value. In the first two months of this year, Shenzhen exported 7.1 billion yuan of electronic cigarettes, a year-on-year increase of 38.9%, accounting for 66.9% of the country's total export value of electronic cigarettes. Shenzhen Customs announced the export data of e-cigarettes for the first time.
According to customs data, the main characteristics of electronic cigarette exports in Shenzhen are as follows:
1. Exports are dominated by private enterprises, contributing more than 85% of the export market value
In the first two months of this year, the export of private enterprises in Shenzhen was 6.09 billion yuan, an increase of 42%, accounting for 85.8% of the total export value of electronic cigarettes in Shenzhen during the same period.
2. Exports by general trade methods accounted for more than 90%
In the first two months of this year, e-cigarettes were mainly exported in the form of general trade, with an export market value of 6.53 billion yuan, an increase of 40.5%, accounting for 92.1%.
General trade refers to the unilateral import or unilateral export trade of enterprises with import and export rights in China. Among the exports of e-cigarettes in Shenzhen, exports by general trade methods account for a relatively high proportion. This means direct commodity exchange between e-cigarette manufacturers in Shenzhen and overseas buyers, rather than through a third-party trade intermediary. It can bring more profit margins and more direct market feedback, enabling enterprises to more directly understand the needs and trends of overseas markets.
3. It is mainly sold to European and American markets; more than 30% of the products are exported to the United States, but the export value has declined.
In the first two months of this year, Shenzhen exported 2.29 billion yuan to the United States, a decrease of 20.1%, accounting for 32.3% of the total export value of electronic cigarettes in Shenzhen during the same period. The proportion will decrease by 5.8% compared with 2022. It is still the largest export market for e-cigarettes in Shenzhen.
During the same period, exports to the EU, the UK and Russia increased by 1.9 times, 90% and 2.7 times respectively, accounting for 40.9% in total.
4. Exports to Southeast Asia increased by 1.3 times
According to customs data, in the first two months of this year, exports to ASEAN were 420 million yuan, an increase of 1.3 times, accounting for 6% of total exports.
Reference: The main market situation of Shenzhen electronic cigarette export in the first two months of 2023
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