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HO CHI MINH CITY, Jan 13, 2015 – The Hinrich Foundation  released the Vietnam Sourcing Report: Basketware with the support of its partner in export development, Global Sources (NASDAQ: GSOL)

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Online report lists 117 export suppliers and includes details on new products – crafts, vases & pottery, and tableware – plus pricing and supply market trends.

The online report includes names and details of 117 export suppliers and images of bamboo, rattan, natural material and plastic baskets. The report also features industry information, new product features, price guides and export data. PDFs of each section are available online to download for free.

Report shows Vietnam basketware’s strong capacity to supply huge quantities

The findings of the report include:

  • Vietnam basketware sector has approximately 713 bamboo and rattan craft villages with approximately 350,000 workers;
  • Vietnam bamboo and rattan products overseas sales hit $186 million in the first nine months of 2015;
  • Vietnam rattan, bamboo and rush products export sales increased by 8.7 percent on average from 2012 to 2014;
  • Vietnam woven bamboo and rattan products are expected to reach $1 billion in overseas revenue in 2016.

The upscale suppliers’ total output reached 120,000 pieces per month.

Manufacturers purchase large quantities of materials and stock them up to maintain active production and keep their export prices less volatile.

“Firms are experiencing shortage of resources, resulting in price surge of basketware materials. The country has exhausted its natural resources, including bamboo, rattan and rush seagrass, due to lack of strict government management and policies,” said Alex Boome, Hinrich Foundation’s program director.

“North American buyers prefer big items with simple designs. Asian buyers prefer small colorful items with complicated decoration. European buyers prefer medium items with natural color,” said Linda Thanh Tam from Artistic Décor Furniture Company.

Most suppliers will keep their current prices to stay competitive and attract more orders, although their profit margins may shrink.

Sourcing Reports for the Philippines, Vietnam, India, Nepal, Myanmar, Cambodia and Indonesia

The Vietnam Sourcing Report: Basketware is one of a series of online Sourcing Reports covering emerging Asia supply markets. A full version of the report can be viewed online at http://tinyurl.com/Vietnam-Basketware.

Other related Sourcing Reports available online are:

The next report in the Vietnam Sourcing series is Wooden Furniture available at: http://tinyurl.com/VietnamCountryPage.

Sourcing from Vietnam buyer’s guide

To help buyers new to Vietnam sourcing, the Foundation has prepared a guide that provides an overview of the industries and products available and main manufacturing centers.

Buyers will also learn how to find and vet reliable suppliers, available banking options, common methods of payment, shipping details and steps to avoid or settle trade disputes at http://www.developingcountrysourcing.com/sourcing-vietnam.

About the Hinrich Foundation

The Hinrich Foundation believes sustainable global trade promotes 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 program 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. The Hinrich Foundation offers scholarships to students from Myanmar, Cambodia, Vietnam, Lao and China to study in Hong Kong, Thailand, The Philippines and the U.S. We give our scholars internships and on-the-job training in export related companies and organizations in 10 countries.
  • Export trade assistance: We offer practical trade services to promote and coach producers on how to participate in global trade. Through the Export Trade Assistance, the Hinrich Foundation connects exporters in developing Asia with buyers worldwide.
  • International trade policy research: We believe that the health of the global economy and peace between nations depend on countries having productive trade relationships, which requires 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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