Vietnam Tile sales situation is poor inventory and up to 50 million square meters.
Posted By Becky on July 24, 2012
According to the Vietnam Investment News reported on July 18, this year the Vietnamese building materials industry stocks increased, sales is more difficulties, resulting in many business losses. Vietnamese tile inventory in the first half year is as high as 50 million square meters, worth 3.5 trillion VND (about $ 167 million).
It is reported that Vietnam has abundant labor resources, about 70 percent of people under the age of 40 in the 87 million people. Vietnam Vietnam’s investment environment is improving.Because of the anti-dumping of U.S. and European markets, many Chinese ceramics enterprises need to provide the Certificate of Origin. In order to avoid trade barriers, businesses are looking for a new investment place, and Vietnam, relatively low cost and close to regional investment become the new object between ceramic enterprises .Vietnam is still a huge consumer market, the data shows that bilateral trade in 2011 amounted to nearly $ 40 billion, an increase of 30%.
However, the downturn of the international economic environment and invest in Vietnam overheating, resulting in Vietnam building materials stocks surge. Addition to building ceramic tile, glass sales of Vietnam in the first half fell 30%, of the 7 glass factory with an annual output of 150 million square meters (standard glass), in the end of April, the stock reached 50 million square meters. Due to high inventories, many factories had to suspend production or reduce production in order to reduce losses.
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