Ruble Depreciation Led To Russian Refusal To Take Delivery Of Goods Unwilling To Pay

Russia has always been one of the five main export markets of Wenzhou enterprises, and Wenzhou has 1664 enterprises to trade with Russia. Its main products include shoes, clothing, automobile and motorcycle fittings, etc.

Mr. Wu, who has been engaged in the Russian freight industry for many years, said: "this year, the collapse of the rouble caused great losses to the Wenzhou enterprises. Not only did the business shrink significantly, but worse, some trade contracts broke down, some refused to pick up the goods in time, some did not pay the goods on time, and there were also temporary requests for price cuts." How did the situation go? Reporters recently visited Wenzhou trade with Russia.

According to Zhang Zhiqiang, who has been engaged in foreign trade for Russian market for many years, there are two kinds of enterprises in Wenzhou doing foreign trade business in Russia. One is to make an order. If the contract of the order is calculated in US dollars, the impact of the ruble depreciation will not be very large. The other is self produced and self marketing. Such enterprises will process the products well and ship them to the Russian market for sale. Because of the depreciation of rouble, wholesale sales are rouble, and such enterprises suffer a lot of losses.

"This year, the collapse of the ruble has caused great losses to Wenzhou enterprises," he said. "Some trade contracts have been defaulted, some have refused to take delivery in time, and some have not paid on time. Payment for goods There are also temporary requests for price cuts. Mr Wu said such a sharp decline was rare. Wenzhou Some enterprises are afraid to take orders from Russia at present.

According to the Secretary General of the Wenzhou Textile Industry Association, 1664 enterprises in Wenzhou have trade with Russia. The main products are shoes. clothing Automobile and motorcycle accessories, socks and other industries. According to a meeting held by a trade association not long ago, he learned that this year's socks industry in Ruian was affected by the depreciation of rouble. Some of the enterprises that made Russian market suffered heavy losses.

Since June this year, Wenzhou's exports to Russia have been declining compared with the same period last year, and the decline began to increase in August, with a drop of 11.75% to 27.86%.

Zhou Dewen, President of the Wenzhou SME Development Association, said that after the depreciation of ruble, the profit return of the Russian and Zhejiang businessmen declined significantly, with a drop of 50%. With the depreciation of rouble and the reduction of consumption, orders in these professional markets decreased by 30% to 40%.

Yin Wenru, director of the foreign trade department of the Wenzhou Municipal Bureau of Commerce, said that enterprises could ask for payment of the US dollar and pay in advance in order to reduce the risk. In addition, the marketing of next year should be reconsidered carefully, with special attention to risk.