Boom in tools from China

Exports of hand tools from China topped US $ 630 mio (€ 521 mio) in 2004, which amounts to a 28 per cent increase over the previous year's result. Double-digit growth is also anticipated for this current year, and 80 per cent of producers are intending to expand their manufacturing capacity. This information comes from the China Sourcing Report issued by Global Sources. The study also states that many Chinese manufactures operating in this area will shift their focus more to products in the mid-range or high-end segment, since there is such intense competition in the low-end DIY sector.