Goods from China Getting More Expensive, Price of Container Transport Increases Dramatically

The German Economic Institute has warned the citizens that there will be a dearth of goods from China in the next few months and that the prices will be considerably higher, because the costs have increased as well. Containers arrive full from China and go back empty, because there are not enough good from Europe due to Covid-19. The problem affects Serbia as well.

The price of container transport from China to Europe used to be 3,600 to 4,000 euros per container. The price has now gone up to 8,000 to 9,000 euros, depending on which port in China the goods are coming from.

Priority is given to those who make pre-payments to Chinese companies, and, due to the hampered production, containers have to be sent back from Europe either empty or 30% full.

The situation in America is even worse, because many components for the finalization of products from China are late by up to several months.

– There’s no mercy in commerce. It is not the Chinese goods that are getting more expensive, but the transport, and someone has to pay for it. Free shipping is behind us now that everything has to be paid for if you don’t want your goods to arrive late – says Hu Ying, the director of the Port of Shanghai.

The trade between China and the 17 countries of Central and Eastern Europe reached USD 103.15 billion in 2020, whereby the threshold of USD 100 billion was crossed for the first time, and the cooperation is improving with each year.

– China already produces 80% of what it needs. China only needs raw materials and sophisticated semi-products. They don’t come from Europe, but from the third world countries, and that’s where the problem occurs – says Hi Wei, an economist from China.

A lack of Chinese goods, in terms of both the range and the quantities, is being felt in Serbia as well, in certain segments. Due to the transport prices, the country’s importers are not able to rent larger quantities of containers on their own, so small and medium enterprises are oriented toward large transporters.

They say that, for some of them, Serbia is on the schedule no sooner than August, and then at a 30% higher price.

German Economic Institute

lack of goods from China

containers from China

coronavirus

Covid 19

Hu Ying

Hi Wei