On August 21, the General Administration of Customs of China updated vape export trade data for July 2024. Data show that China’s vape exports in July totaled approximately US$1 billion, a month-on-month increase of 0.36% and a year-on-year increase of 8.08%; the export volume was 28,400 tons, a month-on-month increase of 0.64% and a year-on-year increase of 12.46%.
The United States, Britain and Russia ranked among the top three exporters, with Russia increasing by 232.23% year-on-year.
Data show that the top five markets (the United States, the United Kingdom, Russia, Germany, and South Korea) together account for the majority of the overall export volume.
Specifically, the United States is still the largest export destination. Although it fell by 4.31% month-on-month, it still increased by 19.3% year-on-year, with exports reaching US$304.6 million, occupying an absolute market share.
Followed by the United Kingdom and Russia, exports to the United Kingdom dropped more significantly, to 114.5 million U.S. dollars, a decrease of 7.58% month-on-month, and a year-on-year decrease of 14.75%; while Russia increased significantly, with a month-on-month increase of 23.65%, and a year-on-year increase of 232.23%, reaching 95.9 million. The U.S. dollar has become the fastest growing market for China’s vape exports.
The market performance of Germany and South Korea declined, with exports reaching US$58.95 million and US$55.54 million respectively.
Other countries in the top ten include the Netherlands ($41.69 million), Malaysia ($30.04 million), Japan ($28.89 million), the United Arab Emirates ($26.49 million) and Canada ($23.11 million).
Among them, the United Arab Emirates increased by 17.82% month-on-month and 74.08% year-on-year; while the Japanese market showed strong rebound momentum, growing by 76.02% month-on-month and 22.91% year-on-year.
Emerging market outbreak: vape imports surge in Bolivia, Libya and other countries
Two Supremes noticed that there were some new changes in the top ten list of month-on-month growth in July. More emerging countries showed strong growth scale, mainly concentrated in emerging countries such as South America, Africa, Central Asia and Southeast Asia. Market data shows that the markets in these regions are still in the development stage and have huge potential.
Bolivia, located in South America, surged by 2142.41% month-on-month. Although its absolute amount ($320,000) was not high, the growth rate was unusually significant. Libya in North Africa also showed strong growth, with a month-on-month increase of 706.16%.
The Central European country Hungary and the Central Asian country Uzbekistan also showed strong growth, with month-on-month growth rates of 539.45% and 376.1% respectively; the Middle East country Yemen and the Southeast Asian Philippines also grew by more than 250% month-on-month, among which the year-on-year growth rate of the Philippines also reached 26.91%, with export volume reaching US$13.05 million.
The growth rates of the Serbian and Belgian markets in Europe were 176.76% and 156.71% respectively, with exports to Belgium reaching 12.33 million; Bangladesh in South Asia and Guatemala in Central America ranked on the list with month-on-month growth rates of 156.71% and 151.73% respectively. .
Export volume has increased, but export unit prices have declined.
In addition, the total export volume was approximately 28,400 tons, an increase of 0.64% month-on-month and 12.46% year-on-year.
The export unit price was US$43.81/kg, down 0.28% month-on-month and 3.90% year-on-year; the average price of “vapes and similar personal atomization equipment” was US$5.0/unit.
Among them, “vapes and similar personal atomization devices” accounted for 24.5% of the export categories, while “non-burned and smoked products that do not contain tobacco or reconstituted tobacco and contain nicotine” accounted for 75.5%.
Recent data shows that China’s vape exports reached a staggering US$1 billion in July, showing a continued growth trend. In this fiercely competitive market, veehoo vapes, as a dynamic brand, have also gained significant attention and achievements in the global market.
The rise of emerging markets
In addition to traditional markets, some emerging markets are also showing strong growth momentum. Bolivia in South America, Libya in North Africa, Hungary in Central Europe, Uzbekistan in Central Asia, and countries in the Middle East and Southeast Asia have all shown obvious growth trends. Although these markets are relatively small in size, their growth rates are extremely significant, providing huge opportunities for veehoo vapes to expand into the global market.
Export volume and price trends
Overall, China’s vape export volume has increased, while the export unit price has shown a downward trend. This may be affected by intensifying market competition and consumers’ focus on cost-effectiveness. In such a market environment, veehoo vapes need to continue to focus on product quality and innovation to maintain competitive advantages and meet the needs of different markets.
Conclusion
Against the backdrop of the prosperity of China’s vape export market, veehoo vapes have successfully entered the global market and shown strong growth momentum in various markets with its differentiated strategy and innovation capabilities. In the future, as global consumer demand continues to change and market competition continues to intensify, veehoo vapes will continue to be committed to providing high-quality, innovative products, winning the favor of more consumers, and achieving sustainable development and commercial success.
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