CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

MARKET SECTOR

The EU market for Ball-point pens

Publication date: December, 2007
Report summary This CBI market survey discusses the following highlights for the EU market for ball-point pens: Total EU consumption1 of ball-point pens in 2005 amounted to 479 million. That year, the six reviewed markets2 accounted for 84% of total EU consumption. This percentage gives a general picture of the share of these markets in EU ball-point pen production. The ballpoint pen market in the reviewed markets represented a value of 341 million3 in 2006. Please bear in mind, that the sources of data for consumption for the total EU and the seven reviewed markets are different. In comparison to previous years, the reviewed markets experienced a marginal decrease. For the future, only very slight fluctuations in the market are expected, as it is mature and static in its nature. Ball-point production in the EU countries represented a value of 360 million in 2005. This represents a considerable drop, of 17% from 2003. One of the reasons is that some major European A brand manufacturers have stopped production in the EU and have outsourced it to low wage countries. The total import value of ball-point pens, refills, and parts into the EU increased between 2004-2006 by 11%, reaching a value of 818 million in 2006. The trade structure of stationery in the EU is complex, as stationery is distributed through many different intermediaries and retailers. In the last decade the European stationery market has become increasingly competitive and this is due to the distinct maturity of the market, especially in the North-western part of Europe. Imports coming from developing countries accounted for 28% of the total imports in 2006. The most important developing country suppliers are: China 79.1%,
India 8.9%, Mexico 4.3%, 3.1% South Korea, Others 4.6%.

This survey aims to provide developing-country exporters of ball-point pens with productspecific market information related to gaining access to the EU market(s). By focusing on the EU market(s) for one product (group), this document provides additional in-depth information, complementary to the more general information and data provided in the CBI market survey The stationery, office and school supplies market in the EU (2007), which can be downloaded from http://www.cbi.eu/marketinfo. Detailed information on the selected product (group) is given in Appendix A. This survey discusses the EU in general and the following markets in particular: Germany, France, Spain, Italy, the UK, the Benelux, the Nordic countries. 1 Market description: consumption and production

Consumption Total EU consumption of ball-point pens in 2005 amounted to 479 million. That year, the six reviewed markets accounted for 84% of total EU consumption. This percentage gives a general picture of the share of these markets in EU ball-point pen production. Please bear in mind, that the sources of data for consumption for the total EU and the seven reviewed markets are different. The ball-point pen market in the reviewed countries represented a value of 341 million in 2006 and showed a marginal decrease over the previous year ( 343 million in
1

Apparent consumption (imports+production-exports) extracted from the Eurostat database is only available up to 2005. 2 The seven markets reviewed in this survey are: Germany, France, Spain, Italy, UK, Benelux, and the Nordic countries. 3 MSP (Manufacturing Selling Prices) The price at which manufacturers sell products to resellers or direct to users.

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 1 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

2005). The refills market in the reviewed countries represented a value of 65 million in 2006, again showing a very small decrease over the previous year. According to research, the refills market will stay stable until the end of this decade, showing just a few minor increases and decreases (less than 1 million) among the reviewed countries. According to the agencies conducting sector-specific research in the field, the ball-point pen market is likely to remain stable until the end of the decade. Only a marginal decrease of about 1% is expected between 2008 and 2009. The reasons for the slight decrease are mainly: Higher competition from other types of pens (gel ink and liquid ink pens) Penetration of cheaper, lower-quality imports as well as own-label products, resulting in lower prices (this in turn has decreased the Euro value of the market over the years). In general, the ball-point pen market can be segmented into three major market segments: professional end users, small office and home office users (SoHo), and private end users. The demand for ball-points may vary among the segments in the reviewed countries. Chapter 1 Consumption of the CBI survey The stationery, office and school supplies market in the EU (2007) elaborates further on the segmentation of the stationery market. The increasing penetration of PCs, internet and e-mail negatively affects the demand for writing instruments. In order to combat this competition, producers are undergoing continuous product innovation. Increasing imports from the Far East and China are driving down average prices. In Germany, the market for ball-point pens was estimated to be worth 74 million in 2006. Since 2003, consumption has decreased slowly from 76 million to the current level. Research indicates that annual consumption in Germany will keep on decreasing very slowly to 73 million by the end of this decade. Overall, the German market for writing instruments is flat. Refillable products account for more than 60% of the German ball-point sector. Prices are falling in the ball-point market as a result of intensifying price competition, due to the penetration of cheaper, lower-quality imports and own label products. The consumption value of refills in the German market is forecast to decrease slightly in the near future, caused by weakening prices. In France, the market for ball-point pens was estimated to be worth 74 million in 2006. Market-specific research indicates that the French ball-point market will stay relatively stable until the end of this decade. Disposable pens account for 70% of the French ballpoint market. The majority of these disposable pens are budget products. The overall writing instruments market appears to be very mature in France. The back to school period plays a large role in the French writing instruments market. However, in the last decade, the student population in France has slowly been decreasing. On the other hand, ballpoints may become increasingly popular as an advertising object. Sector-specific research indicates that refill consumption ( 18 million) will remain stable in the French market until the end of this decade. In Spain, the market for ball-point pens was estimated to be worth 28 million in 2006. Spanish consumption only increased by 0.5 million over the last few years, and estimates indicate it will grow slightly, to 29 million by the end of this decade. For refills, research indicates the market will stay stable at 7 million in the coming years, as it has done for the last few years. According to market research, the Spanish writing-instruments market is quite mature and significant growth is unlikely. Spanish users continue to switch to gel ink and liquid gel pens. Research indicates that the own-label market is now static (50% market share), which means that premium refillable ball-points are more likely to be affected by imports from developing countries. In Italy, the market for ball-point pens was estimated to be worth 75 million in 2006 and is projected to decrease to 72 million by the end of this decade. Research indicates that the most recent trend is towards the cheapest products. Intensifying price competition in the market is the result of the increased low-price imports and own-label production. Refills consumption value reached 3 million in 2006, and research indicates it will decrease, to 2 million at the end of this decade.

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 2 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

In the UK, the value of the market for ball-point pens was estimated to be 77 million in 2006. Up to the end of this decade, it is projected to grow to 78 million. In the UK, disposable products account for about 55% of the total ball-points market and they have seen a general increase in terms of volume (units) during recent years. Initially, disposable ball-points in the UK faced difficult competition from gel and liquid ink pens. Research indicates that these difficulties are being overcome. In the Benelux, the value of the market for ball-point pens was estimated to be worth 22 million in 2006. Towards the end of this decade, research projects that it will move towards 21 million. Ball-points remain the best sold writing instrument in the Benelux. In terms of value, about 65% of the ball-point market comprises disposable products. In the Nordic countries, the consumption value of ball-point pens reached 17 million in 2006. In 2004, consumption was around 18 million, and research forecasts that it will decrease to 17 million by the end of this decade. Disposable ball-points account for 70% of the market. Moreover, in the Nordic region, private-label products have a substantial and stable share of the market. Refills consumption value was estimated at 4 million in 2006, and research projects that it will decrease to 3 million by the end of this decade.

Production Total production, in value and volume, for ball-point pens, refills and parts in the EU amounted 469 million in value, with a volume of 1.6 billion primary units in 2005. The EU is home to some of the worlds leading manufacturers of ball-point pens. Over the reviewed period, the ball-point market has become increasingly competitive, caused by the maturity of the market and the increasing pressure of imports from low-cost countries. In order to survive, economies of scale were of vital importance and this, in turn, has led to a consolidation trend amongst manufacturers. The reasons for decline of European production may be: low/static/mature consumption growth some major European A brand manufacturers ceased production in the EU and outsourced to low wage countries (such as the Far East and China); a tendency that is expected to continue in the future own label products have increased their market share in many European markets imports have increased for budget products continuing penetration of cheaper, low-quality products has intensified price competition Table 1.1 shows the respective production of ball-point pens, refills for ball-point pens and parts for 2001, 2003, and 2005. The seven reviewed European markets are further described below, describing both increases and decreases in value and volume. Table 1.1 Production in the EU (millions of euros)
Product Ball-point pens Refills for ball-point pens Parts 2001 494.6 38.5 136.1 2003 434.4 29.9 135.2 2005 359.6 16.3 92.9

Source: Eurostat4 database (2006)

The refills production in the EU countries represented a value of 16 million in 2005, according to the Eurostat database. It showed a 45% decrease over the years 2003-2005, after already having decreased by about 22% between 2001 and 2003. As far as the parts of pens are concerned, production in the EU countries represented a value of 93 million in 2005 according to the Eurostat database. This indicates a decrease of 31% over the period 20032005. Please note that this number includes the parts of all types of pens and that is why it is relatively large compared to the ball-point pens market. Another reason for this relatively large
4

The Eurostat database is not exhaustive in its information. Numbers for certain years and countries might be missing and this may give deceptive impression in some cases. One should not fully rely on the statistical background provided by the database.

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 3 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

value of parts production is the fact that a lot of parts are produced in Europe and exported to developing countries for assembly. Then they come back in the EU as complete pens. Moreover, Germanys production of pen parts represents about 81% of the EU production of parts. The main reason for that is the availability of strong manufacturers and suppliers of pen parts in this country5. Finally, pen parts are also a very important source for opportunities for manufacturers and exporters from developing countries as production is showing a decline in Europe. Germany produced ball-point pens, refills and parts valued at 258 million, 448 million primary units in 2005: ball-point pens worth of 171 million ( 66% share) refills worth of 11 million ( 4% share) parts worth of 76 million ( 30% share) In 2004, Germany produced respectively 167 million, 34 million, and 82 million worth of ball-point pens, refills, and parts, totaling 283 million, with a volume of 506 million primary units. This indicates a decrease of 9% in value and a decrease of 12% in volume in total production. The ball-point market in Germany is very fragmented. The main manufacturers in the refillable market are Bic (www.bicworld.com), Schneider Schreibgerte (www.schneiderpen.de), Lamy (www.lamy.de), Sanford (www.sanfordcorp.com), Senator (www.senatorpen.com), Herlitz (www.herlitz.de), and Pilot (www.pilotpen.com). France produced ball-point pens, refills and parts valued at 100 million, 233 million primary units in 2005: ball-point pens worth of 80 million ( 80% share) refills worth of 5 million ( 5% share) parts worth of 15 million ( 15% share) In 2004, France produced respectively 94 million, 5 million, and 18 million worth of ballpoint pens, refills, and parts, totaling 117 million, with a volume of 112 million primary units. This indicates a decrease of 15% in value, but an increase of 208% in volume in total production. The main manufacturers of ball-point pens are Bic (www.bicworld.com) and Sanford, with Reynolds and Papermate (www.sanfordcorp.com). Spain produced ball-point pens and parts valued at 7 million, 15 million primary units in 2005: ball-point pens worth of 6 million ( 88% share) parts worth of 1 million ( 12% share) In 2004, Spain produced worth of 8 million, with a volume of 18 million primary units; it produced respectively 7 million and 1 million worth of ball-point pens and parts. In total, This indicates a decrease of 17% in value and a decrease of 13% in volume in total production. Main manufacturers are Bic (www.bicworld.com), Staedtler (www.staedtler.com), and Sanford (www.sanfordcorp.com) for disposable ball-points. Main manufacturers in the refillable ballpoint market are Sanford, Bic, and AT Cross (www.cross.com). Other luxury brands, like Montblanc (www.montblanc.com) and Inoxcrom (www.inoxcrom.com), are also players in this market. Italy produced ball-point pens and parts valued at 66 million, 873 million primary units in 2005: ball-point pens worth of 65 million ( 98% share) parts worth of 1 million ( 2% share) In 2004, Italy produced worth of 71 million, with a volume of 1012 million primary units; it produced respectively 69 million and 2 million worth of ball-point pens and parts. This indicates a decrease of 6% in value and a decrease of 14% in volume in total production. Main
5

Note that Switzerland is also a big manufacturer of pen parts in Europe. Unfortunately, quantitative information for that country is not available in the Eurostat database.

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 4 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

manufacturers of disposable ball-points are Bic (www.bicworld.com), Sanford (www.sanfordcorp.com), Osama Scrittura (www.osama.com), Pilot (www.pilotpen.com), and Pentel (www.pentel.com). The UK produced ball-point pens valued at 28 million in 2005. In 2004, the UK produced worth of 30 million; it produced respectively 27 million and 3 million worth of ball-point pens and parts. In total, this indicates a decrease of 6% in value in total production. Main manufacturers of disposable ball-points are Bic (www.bicworld), Sanford (www.sanfordcorp.com), Pentel (www.pentel.com), and Staedtler (www.staedtler.com). In the refillable ball-point market, the main manufacturers are Sanford, Bic, and AT Cross (www.cross.com). Unfortunately, the Eurostat database has no information available about the Benelux market. Bic (www.bicworld.com) dominates the Benelux market for disposable ball-points, owning a 25% market share. Main manufacturers of (premium) refillable ball-points are Sanford, AT Cross (www.cross.com), Montblanc (www.montblanc.com), Bic (with Sheaffer) and Pelikan (www.pelikan.com). The Nordic countries produced ball-point pens valued at 4 million, 6 million primary units in 2005. In 2004, the Nordic countries produced 4 million, with a volume of 7 million primary units. This indicates a decrease of 18% in value and a decrease of 18% in volume in total production. Main manufacturers in the Nordic countries are the Bic (www.bicworld.com), Faber-Castell (www.faber-castell.com), Pilot Pen Company (www.pilotpen.com), Merz and Krell, and Staedtler (www.staedtler.com). Opportunities and threats + Opportunities for certain writing and graphic market products lie mostly in the back-toschool period. + The ball-point pen market is mature/stature, but production figures have decreased significantly over the last years. - The penetration of electronic devices such as personal computers and e-mail negatively affect the volume growth in consumption in the European Union. - In the near future, competition can be expected from digital pens, now in their early phase of development. - Lack of growth in the ball-point markets indicates a lack of opportunity. There has been a visible shift in consumer demands in the writing and graphic supplies market. More innovative products are occurring, as manufacturers add value to their products, by paying more attention to aspects such as comfort, design, and reliability. The same development or trend can be an opportunity for one exporter and a threat for another; exporters should analyze if these developments represent an opportunity or a threat and the outcome of this analysis depends on the specific situation of an exporter. We refer to chapter 7 Opportunity or threat?, of the EU survey Stationery, office and school supplies market in the EU (2007) for more information on opportunities and threats. 2 Trade channels for market entry

This chapter gives a brief overview of the distribution of ball-points and contains an overview of relevant distribution intermediaries (importers/wholesalers, contract stationers, school suppliers, etc.). For a detailed description of the various types of distribution channels, see Chapter 3 Trade channels for market entry of the CBI survey The stationery, office and school supplies market in the EU (2007). Distribution intermediaries The trade structure of stationery in the EU is complex, as stationery is distributed through many different intermediaries and retailers. Figure 2.1 gives a simplified picture of the trade structure in the stationery market, and it shows the basic relation of the various kinds of

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 5 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

intermediaries. As can be seen, ball-point pens reach the end users through a number of different intermediaries. Figure 2.1 Trade and distribution channels for stationery

Source: CBI Market survey The stationery, office and schools supplies in the EU (2007)

In the last decade the European stationery market has become increasingly competitive. On the one hand, this is due to the distinct maturity of the market, especially in the Northwestern part of Europe. However, the sluggish economic development of the EU ever since 2001 has also had its effect on stationery consumption. As the EU economies are obviously improving, this has already had and will have its positive effects on this sector, although slightly yet. However, despite this positive news, the increasing pressure of new types of retail formats selling stationery, such as hypermarkets, superstores, e-tailers, etc. still leads to sliding profits and escalating debts among many established market players. In particular, the introduction of superstores and e-commerce has impacted the European market considerably. It is important to note that the distribution structure differs quite substantially per end user segment. Large professional end-users generally purchase ball-points and other stationery, office and school supplies through contract stationers and, marginally, through direct sales from manufacturers and wholesalers. The medium-sized Professional users (10 to 100 office workers) are often supplied by retail chains, department stores, but especially through office supply dealers, specialized superstores and mail-order companies. There can, however, be a certain overlap between the distribution channels used to service medium-sized and large professional users. Schools and Institutions generally have their own specific suppliers. These so-called school suppliers are under growing pressure from other suppliers, who are increasingly targeting their marketing efforts at this group of end-users. This is a reason for the specialized school suppliers to initiate more marketing activities towards offices. The SoHo and private end-users, such as scholars, students and families, typically use a variety of distribution channels, among which are superstores, hypermarkets and department stores. Looking closer at the distribution of ball-points, the so-called school suppliers are of considerable importance. These are importers and/or wholesalers who have specialized in supplying schools and institutions. Nowadays some of these companies have expanded their business to the private and/or SoHo and/or professional end users in order to grow. Some examples of companies that have been typically so-called school suppliers are: WMS in the United Kingdom and Koks Gesto in The Netherlands. Unfortunately, there are no separate distribution statistics available for ball-points.

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 6 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

Although the distribution landscape within the reviewed countries is globalizing and becoming similar, there are some considerable differences: In the United Kingdom, the wholesalers, such as Spicers and Kingfield Heath, are of considerable importance, making up 15% of the manufacturers sales. In Germany and the Netherlands, buying groups are an important feature in the market. Important buying groups are Branion GmbH in Germany and Quantore and Hameco in the Netherlands (not reflected in figures). In France, hypermarkets like Carrefour, Leclerc and Auchan are of considerable importance especially regarding ball-point pens sold to the private end users in the back-to-school period. In Germany discounters such as Aldi and Lidl are increasingly making inroads into the market but only with temporary promotional sales. The Spanish retail scene is rapidly changing from traditional structures, dominated by small, often family-owned, stores, to modern shopping environments with new retail formats operated by large multiple groups. El Corte Ingles is an important chain of department stores also selling writing and drawing instruments. An example is Grupo Picking Pack (GPP), which has the largest network of office products stores in Spain, serving the SoHo market through a network of franchise stores. The mail order channel is expected to increase its share further as attitudes to this mode of business begin to change in Italy. Mail order is expected to compete successfully with smaller office products dealers, retailers and office superstores. Most important distribution channels for developing countries exporters Most intermediaries discussed can be of interest for the manufacturers in a developing country. The following intermediaries may, in our opinion, be an option for manufacturers in developing countries: Agents -An agent is an intermediary who does not keep stocks. The agent may serve as an intermediary between the manufacturer and the wholesaler or retailer, receiving a commission from the former. The agent usually has a good knowledge of distribution structures and consumer behaviour. The problem of working through an agent is, however, that the manufacturer is totally dependent and has to trust the quality of the agent's knowledge, commitment and selling ability. Importers/ wholesalers - Importers are familiar with local markets and can supply considerable information and guidance to the overseas manufacturer, such as the handling of import and export procedures and holding of stock, in addition to the primary business of buying and selling. Furthermore, they have strong relationships with suppliers and buyers all over the world. Buying Groups - Buying Groups source stationery on behalf of their members. Negotiating competitive pricing and other marketing benefits including rebates and co-op funds are the main functions of buying groups. The Buying groups generally have strong import programs and can therefore be an interesting trading partner for an exporter in a developing country. Retailers - Some retailers do import directly from manufacturers in low wage countries. The traditional retail formats are under pressure from new formats. Super- and hypermarkets nowadays offer a wide range of stationery. Relatively new retail formats, like superstores and e-commerce, are also entering the stationery market. Useful sources Below are listed the most important contract stationers, importer/wholesalers, dealers, buying groups, chains of retailers and department stores, involved in the distribution of Ball-point pens per country. Germany EK Grosseinkauf eG - http://www.ek-grosseinkauf.de/ Herlitz AG - http://www.herlitz.de/ PBS - http://www.deutschepbs.de/

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 7 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

UK Kingfield Heath - http://www.kingfieldheath.com/ Office Club Ltd. - http://www.officeclub.co.uk/ WH Smith - http://www.whsmith.co.uk/ France Carrefour - http://www.carrefour.fr/ Auchan - http://www.auchan.fr/ Guilbert - http://www.guilbert.fr/ Groupe Casino - http://www.groupecasino.fr/ G3+ - http://www.intropa.fr/ Galeries Lafayette - http://www.galerieslafayette.com/ Benelux Bruna - http://www.bruna.nl/ Vroom and Dreesman - http://www.vroomendreesman.nl/ Hema - http://www.hema.nl/ Timmermans - http://www.timmermansnet.com/ Ahrend - http://www.ahrend.be/ Carrefour - http://www.carrefour.be/ Quantore - http://www.quantore.nl/ Galleria Inno - http://www.inno.be/ Spain Comercial del Sur de Papeleria S.A. - http://www.liderpapel.com/ Makro Paper - http://www.almacenespaez.com El Corte Ingles - http://www.elcorteingles.es/ RED - http://www.grupoccs.com/ Sett Grup - http://www.settgrup.es/ Nordic countries Ahlens - http://www.ahlens.se/ Beltton Oy - http://www.beltton.fi/ EMO A/S - http://www.emo.no/ Nio Fem - http://www.niofem.se/ Bogpa A/S - http://www.bogpa.dk/ Oy Wulff AB - http://www.wulff.fi/ Andvord Tybring-Gjedde - http://www.tybring-gjedde.com/ Italy Errebian - http://www.errebian.it/ Buffetti - http://www.buffetti.it/) Coin - http://www.coin.it/ La Rinascente - http://www.rinascente.it/ Price structure The most traditional route for ball-point pens from manufacturer to the end user is as follows: manufacturer -> importer/wholesaler/buying group/chain -> retailer -> end user. Below you will find an indication of the average margins. Please note that information on margins should always be updated and checked for the specific product / market combination.

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 8 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

Traditional trade price structure End-users (street) price inclusive of VAT VAT 19%6 End-users (street) price exclusive of VAT Average margin retail outlet / shop 38% Retailers purchase price Average wholesalers/importers margin 27% Wholesaler/importers purchase price in house Import and transport cost 20% over fob! Wholesaler/importers purchase price fob Transport % import cost Ex works

2,50 0,40 2,10 0,80 1,30 0,57 0,73 0,12 0,61 0,10 0,51

A multiplier of 4 is applied to a manufacturers FOB price to estimate retail prices (in the above example that multiplier exactly amounts to 4.1). Throughout the different trade channels margins and prices vary widely. In earlier days, in the so-called product driven economy, the manufacturer would calculate his cost price, add his desired profit margin and quote that price to his potential buyers (bottom up method). However, nowadays, the so-called market driven economy manufacturers have started to realize that they and their (potential) buyers/trading partners do not determine the price levels on their own. The price levels in the entire supply chain are for the major part determined by the end-users, the market, how much are they willing to pay for the product. For generic products this is generally much lower than for specialised or branded products. Selecting a suitable trading partner A possible way of finding a business partner is the CBI Company Matching Tool, which can appropriately match your company to a European partner. This can be the case only if your company meets the criteria of CBI for an eligible candidate and if it produces products that correspond with the eligible product groups. For more information on that and further procedures consult the CBI site http://www.cbi.nl. Other suitable ways of finding a business partner(s) are given in Chapter 5 of the CBIs Export planner, namely Selecting trade partners. Possible ways of searching are through Internet, short-listing possible partners. You should travel around, pick up information, compare and select. An idea here is to visit trade fairs and exhibitions in any one of the selected countries: Eventseye - http://www.eventseye.com/fairs/event_tg171_1_1.html - Trade Shows, Exhibitions, Conferences and Business Events Worldwide Biz tradeshows - http://www.biztradeshows.com/office-supplies/ Infomat - http://www.infomat.com/calendar/infsg0000015.html The Wholesaler UK - http://www.thewholesaler.co.uk/trade_diary_dates.html 3 Trade: imports and exports

Imports The total import value of ball-point pens, refills and parts into the EU in 2006 amounted 817.8 million. This represents an increase of 11.3% from 734.7 million in 2004. The following table (3.1) shows the value of imports into the EU, divided into intra-EU imports, extra-EU imports excluding developing countries, and finally imports from developing countries. Furthermore, the table shows the leading suppliers of 2006 and their share in % of import value.

Vat: rates vary per EU country

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 9 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

Table 3.1 Imports and leading suppliers of Ball-point pens, refills, and parts. 2002 2006, share in % of value
Total EU 2002 2004 2006 Leading suppliers in 2006 mln mln mln Share in % 378 378 429 Intra EU: Germany 28.7%, France 17.6%, UK 11.8%, Italy 10.2%, Spain 6.0%, Others 25.7%. 253 192 164 Extra EU ex. DC*: Japan 41.4%, Switzerland 34.0%, Taiwan 12.0%, USA 7.7%, Hong Kong 4.2%, Others 0.7%. 142 165 225 DC*: China 79.1%, India 8.9%, Mexico 4.3%, 3.1% South Korea, Others 4.6%. 36 48 52 Intra EU: France 20.9%, UK 20.9%, Italy 15.2%, Czech Republic 11.4%, Ireland 7.7%, Others 23.9%. 57 47 47 Extra EU ex. DC*: Swiss 59.4%, Japan 25.1%, Taiwan 9.5%, USA 4.5%, Hong Kong 1.3%, Others 0.2%. 29 32 45 DC*: China 75.2%, India 17.0%, South Korea 6.0%, others 1.8%. 60 43 17 59 30 19 74 Intra EU: Germany 33.7%, Slovakia 17.3%, Italy 11.5%, UK 10.4%, Spain 7.0%, Others 20.1%. 32 Extra EU ex. DC*: Japan 72.7%, Swiss 17.1%, Taiwan 7.3%, USA 2.1%, Others 0.8%. 26 DC*: China 60.3,% Mexico 11.0%, India 10.5%, Morocco 6.5%, South Korea 3.9%, Others 7.8%. 31 Intra EU: France 40.9%, Germany 35.4%, Italy 8.5%, Ireland 4.5%, Slovakia 3.6%, Others 7.1%. 13 Extra EU ex. DC*: Japan 75.5%, USA 9.8%, Taiwan 9.7%, Swiss 3.8%, Hong Kong 1.0%, Others 0.2%. 23 DC*: China 89.1%, India 7.3%, South Korea 2.0%, Others 1.6%. 44 Intra EU: Germany 43.9%, France 24.1%, Ireland 7.0%, Slovakia 5.7%, UK 5.6%, Others 13.7%. 13 Extra EU ex. DC*: Swiss 55.1%, Japan 24.7%, Taiwan 11.7%, USA 4.2%, Hong Kong 3.2%, Others 1.1%. 27 DC*: China 69.3%, Mexico 24.1%, South Korea 2.2%, India 1.8%, Others 2.6%. 55 Intra EU: France 31.5%, Germany 27.5%, Italy 16.7%, Ireland 9.9%, Spain 7.5%, Others 7.2%. 26 Extra EU ex. DC*: Japan 34.1%, Taiwan 20.7%, Swiss 16.9%, USA 16.6%, Hong Kong 10.2%, Others 1.5%. 42 DC*:China 84.3%, India 7,5%, Indonesia 1.3%, Vietnam 1.3%, Others 5.6%. 34 Intra EU: Germany 36.2%, France 22.4%, Italy 7.7%, Spain 7.4%, UK 4.1%, Others 22.2%. 10 Extra EU ex. DC*: Swiss 31.4%, Hong Kong 23.0%, Taiwan 18.4%, Japan 14.7%, USA 12.0%, Others 0.5%. 21 DC*: China 90.9%, India 6.7%, South Korea 1.1%, Others 1.3%. 20 Intra EU: Germany 27.8%, France 12.8%, Share (%) 53% 20% 27% 36% 33% 31%

Germany

France

56% 24% 20%

Spain

29 24 16

33 16 18 37 24 17 64 38 31 41 10 17 19

46% 20% 34% 52% 16%

Italy

33 33 11

32% 44% 22% 34% 53% 15% 32% 59%

UK

75 46 30

Benelux

49 18 16

Nordic countries

19

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 10 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

2002 mln

2004 mln

2006 mln

10 3 Source: Eurostat (2006) *Developing Countries

8 4

Leading suppliers in 2006 Share in % Italy 11.9%, Spain 11.7%, UK 7.2%, Others 28.6%. 8 Extra EU ex. DC*: Swiss 50.3%, Japan 27.4%, Taiwan 14.5%, USA 4.2%, Hong Kong 2.5%, Others 1.1%. 6 DC*: China 85.1%, India 10.4%, South Korea 1.6%, Indonesia 1.0%, Others 1.9%.

Share (%)

23% 18%

It is necessary to point out that the numbers for 2002 and 2004 consist of EU-25 data, excluding Romania and Bulgaria. 2006 incorporates these two countries: the EU. The total import share of Romania and Bulgaria in 2006 amounted 2% (with a combined a value of 13.1 million) of total imports. Total Intra-EU imports grew 12% from 2004 to 2006. Also, imports from developing countries grew almost 29% from 2004 to 2006. The main supplier of these imports is China, the largest supplier in all the reviewed countries, and responsible for over 79% of all imports from developing countries. Almost 22% of total imports into the EU come from China. The largest importer from developing countries by value is Germany. The largest importers from developing countries by share of total imports are Spain and the UK (each 34%). Extra-EU imports are substantially decreasing, according to a trend over the last few years. These imports are being replaced by imports from developing countries and from within the EU. Imports into Germany amounted 144 million in 2006 compared to 128 million in 2004. This increase was caused mainly by an increase in imports from developing countries. Intra-EU imports increased slightly, but extra-EU imports suffered a decline of less than 1%. Imports into France amounted 132 million in 2006, up from 109 million in 2004. While the statistics show an increase in imports from all 3 sources, intra-EU, extra-EU, and from developing countries, the increases in imports from intra-EU and developing countries were significantly greater than in extra-EU imports. Imports into Spain amounted 70 million in 2006, up from 67 million in 2004, a 4% increase. However, imports from developing countries increased as imports from intra- and extra-EU sources fell. Imports into Italy amounted 85 million in 2006, rising from 78 million in 2004, an increase of almost 10%. Again, imports from extraEU countries decreased while those from intra-EU and developing countries increased. Imports into the UK amounted 123 million in 2006, falling by 8% from 133 million in 2004. While both intra- and extra-EU imports decreased, imports from developing countries increased. Imports into the Benelux amounted 65 million in 2006, 5% down from 68 million in 2004. Finally, imports into the Nordic countries increased slightly, showing some increase in the imports from intra-EU countries and developing countries. Ball-point pens, refills, and parts The total ball-point pen market can be divided into three main product groups: ball-point pens, refills for ball-point pens, and parts for ball-point pens. Total import-shares in 2006 among these product groups, among the seven reviewed markets, are reviewed below. Total EU imports into the seven reviewed markets of the ball-point pen product group consisted of 89% of ball-point pens, 4% of refills, and 7% of parts. Total German imports of the ball-point pen product group consisted of 83% of ball-point pens, 6% of refills, and 11% of parts Total French imports of the ball-point pen product group consisted of 87% of ball-point pens, 4% of refills, and 9% of parts Total Spanish imports of the ball-point pen product group consisted of 92% of ball-point pens, 5% of refills, and 3% of parts Total Italian imports of the ball-point pen product group consisted of 89% of ball-point pens, 6% of refills, and 5% of parts

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 11 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

Total UK imports of the ball-point pen product group consisted of 92% of ball-point pens, 2% of refills, and 6% of parts Total Benelux imports of the ball-point pen product group consisted of 92% of ball-point pens, 3% of refills, and 5% of parts Total Nordic imports of the ball-point pen product group consisted of 95% of ball-point pens, 1% of refills, and 4% of parts

Exports The total value of EU exports of ball-point pens, refills and parts amounted 769 million for 2006. In comparison to 2004, total exports in the EU have increased slightly, from an export value of 751 million in 2004. Germany exported ball-point pens worth 227 million in 2006, against 240 million in 2004. Frances exports were worth 154 million in 2006, against 173 million in 2004. Spain exported ball-point pens to a value of 40 million in 2006, down from 50 million in 2004. Italys ball-point pen exports were worth of 78 million in 2006, falling from 87 million in 2004. The UK exported 91 million worth of ball-point pens in 2006, against 82 million in 2004. Benelux exports were worth 37 million in 2006, compared to 45 million in 2004. The Nordic countries exports reached 15 million in 2006, up from 11 million in 2004. While the exports of most western European countries are decreasing (except for a few: Germany, UK, Denmark, and Portugal), Eastern European countries are experiencing a remarkable growth in export numbers. Estonia, Latvia, Lithuania, Poland, and the Czech Republic have increased their exports greatly over the past years. Slovakia has even managed to increase its exports from 1 million in 2004 to a value of 21 million in 2006. The overall growth in exports from the European Union is accounted for by these countries. The new participants in the European Union, Romania and Bulgaria, are on the other hand relatively small exporters (less than 1%) in the ball-point market. The Netherlands, Belgium and Luxembourg may be re-exporting a high share of stationery goods, as their imports per capita are very high. For instance, the Netherlands re-exports about 50% of its imports. For the other countries, the re-export is not as marked as for the three countries mentioned. Opportunities and threats + Increasing amount of imports, and also an increasing share coming from developing countries. + From 2006, some buyers who have in the past decade been very actively buying from China, clearly and explicitly initiated new sourcing activities outside China, an important large volume supplier in this sector. In most cases, the reasons stated were increasing prices in China and, in some cases, also the ongoing inconsistency in quality and delivery times. + In Spain, luxury or higher-quality refillable ball-points are the niche facing strongest competition from the exporters from the developing countries. Own label products penetration is static and more expensive pens are more likely to face competition from DC producers and exporters than cheap private label ball-points. + Imports into Benelux are significant for the population of the countries included in it. The majority comes from the Far East, France, Spain, Italy and Germany. According to MPA International, an increase in the imports is not expected. Moreover, the consumption of ball-points in this market is static due to the intense competition from other types of pens. + Japanese suppliers are losing considerable market share in the EU. India, Thailand and Turkey have strengthened their position in the EU recently. EU countries still play an important role e.g. France and The Netherlands. + Persistent and relatively high wage increases, combined with low (or even negative) labour productivity growth, have given rise to competitiveness problems for some Member States. Nominal unit labour cost is estimated to have risen by around 2-3% in Spain, Portugal and Finland, and by 3% or more in Greece, Ireland and Italy in 2005.

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 12 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

In Belgium, from 2006 onwards, some economic recovery is expected, albeit at a moderate GDP growth rate close to 2%. While exports should continue to recover in 2006, consumption will benefit from stronger growth in gross disposable income resulting from the final stage of the 2001 direct tax reform and some improvement in employment. Taking into account real effective exchange rates, unit labour cost rose by around 1-2% in Ireland, Italy and Finland. This has had a negative impact on export performance of these countries, particularly in the case of Italy. On the other hand, the pronounced wage moderation in Germany, as reflected in falling unit labour costs in 2004-2006, has provided a substantial impetus to exports, thus contributing to rising export market shares. In France, imports are projected to be stable, as the manufacturers in this market are supplying the full-range of ball-points (from luxury to budget products). Moreover, in this country the share of pens used for advertising and representative purposes used to be quite high, but the number of companies following that practice has decreased over the years.

The same development or trend can be an opportunity for one exporter and a threat for another; exporters should analyze if these developments represent an opportunity or a threat and the outcome of this analysis depends on the specific situation of an exporter. We refer to chapter 7 Opportunity or threat?, of the EU survey Stationery, office and school supplies market in the EU (2007) for more information on opportunities and threats. Useful sources MPA International http://www.mpainternational.com/ - Research agency Iplusc http://www.iplusc.com/ - Research agency Boleka - http://www.boleka.nl/ - Dutch trade association for stationery items European Writing Instruments Manufacturers Association - http://www.ewima-isz.de/ NOVAKA - http://www.novaka.nl/index.cfm/4,html - Dutch trade association for stationery items Bundesverband Browirtschaft e.V. Internet - http://www.bbw-online.de/ EU Expanding Exports Helpdesk http://export-help.cec.eu.int/ - Go to: trade statistics. Eurostat http://epp.eurostat.cec.eu.int - official statistical office of the EU Go to: themes on the left side of the home page - external trade - data full view - external trade - detailed data. European Commission - http://ec.europa.eu/economy_finance/index_en.htm 4 Price developments

Long term developments Recently prices for ballpoints have not changed considerably and are not expected to change considerably. Increasing cheap imports and increasing market shares of private labels have had a slight negative effect on average price levels. When both gel and liquid pens were introduced in the EU markets they, at first, resulted in a decline in demand for ballpoints. However, as prices of those innovations were much higher and write out times much lower, the ballpoints gained back part of their lost market volume share. Prices have not suffered considerably from these developments, but as currently prices of gel pens are being lowered, it might have an effect in the near future. Increase of the market volume share of retractable and refillable models which are more expensive than disposables - and product innovations such as new shapes, grips, and especially in the medium and premium segments differentiated finishes and materials (most recent trend is using Swarovski crystals such as done by Waterman and Online brands) have been the major reason why average price levels have remained stable. Although prices in the EU in general have remained quite stable, some countries like the UK and Spain had slight upward price trends, whereas Germany showed slight decline. Reason for slight differences may be found partly in the fact that the above mentioned upward effects on prices may have been slightly stronger in some countries than in other EU countries.

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 13 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

Price examples In order to give general insight into price levels we have categorized the major market segments in below scheme, giving rough indications of the price levels and recent developments. Below we have also given a few (end user) prices regarding popular branded ballpoints in the EU7-8, for each price category we distinguish: Table 4.1 Price level indications LOWEST PRICE CATEGORY: - BIC Cristal disposable ballpoint - BIC M10 retractable disposable LOWER: - Parker Jotter steel/plastic retractable/refillable LOWER MIDDLE: - Waterman Apostrophe MIDDLE: - Cross Classic Century UPPER MIDDLE: - Waterman Exception HIGH: - Mont Blanc Meisterstueck Solitaire gold/black
Source: Various web sites

0.18/pce (pack of 50 pcs) 0.44/pces (pack of 50) 7a

7a

3.79/pce (1 pce /pack)

7a

25.00

7c

79.00/pce

7b

205.00

7c

675.00

Table 4.2

Prices, price segments, and price developments

Product criteria Exclusivity Design Materials Store choices Specialty writing instruments shops Specialized office products dealers High-end department stores Specialty writing instruments shops Specialized office products dealers High-end department stores

RSP9 in Brand names (incl. VAT) 500 + Mont Blanc

Price developments Stable

High

Upper middle

Image Design Materials Writing comfort

Mont Blanc Cross Waterman

200 500

Stable and slight increase

prices above are all exclusive of VAT; sources of prices: a German b2b retailer selling mainly through internet, catalogue, and cash-and-carry mega shops (50) targeting mainly SoHo; b advised retail selling price; c office products dealer in NL. 8 Wholesale prices and prices at other levels of the supply chain: can be calculated based on above end user prices (retail selling prices) by applying the backward pricing system and average margins. 9 Retail Selling Price Some suppliers may not be mentioned in a certain price category, but may have products that sell in that level. Here we only mentioned some of the brands as example and to emphasize in what price segment they do play a relevant role!

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 14 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

Middle

Image Design Materials Writing comfort

Office products dealers High- and medium-end department stores

Cross Waterman

50 200

Stable and slight increase

Good writing qualities Lower middle

Office product dealers Contract stationers Super stores Internet shops Medium-end department stores Book and stationery shops Contract stationers Super stores Internet shops Supermarkets Hypermarkets Chains of discount shops Market place Book and stationery shops Contract stationers Super stores Internet shops Supermarkets Hypermarkets Chains of discount shops Market place Book and stationery shops

Lamy Bic Cross Waterman

10 50

Stable

Lower

Reasonable quality for very low price Good grip

Lamy Parker Staedtler Pentel Pilot Bic Papermate Private labels

1 10

Stable and slight decrease

Lowest

Writing

Bic Private labels

< 1.00 Stable and slight decrease

Source: Various web sites

Useful sources Office 2 me - http://www.office2me.co.uk/ Cross - http://www.crossemea.com Products from Germany - http://www.productsfromgermany.de Centro Virtual - http://www.centrovirtual.com/papelnor/prod_list.php Manutan - http://www.manutan.fr 5 Market access requirements

As a manufacturer in a developing country preparing to access country, you should be aware of the market access requirements of your trading partners and the country government. Requirements are demanded through legislation and through labels, codes and management systems. These requirements are based on environmental, consumer health and safety and social concerns. You need to comply with EU legislation and have to be aware of the additional non-legislative requirements that your trading partners in the EU might request. For information on legislative and non-legislative requirements, go to Search CBI database at http://www.cbi.eu/marketinfo, select market sector and country in the category search, click on the search button and click on market access requirements. Packaging, marking and labelling General information on packaging, marking and labelling can be found in the CBI market

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 15 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

survey The stationery, office and school supplies market in the EU (2007). Commonly used packaging materials include corrugated cardboard, excelsior (wood wool), jute, paper, plastics, including expanded polystyrene, wood and bubble wrap. The type of material chosen depends on: the sensitivity of the product; the types of damage that are likely; the value of the product; the size of the product; the weight of the product; the length of time the product will be packaged; and the method of shipping being used. Specific comments for ball-point pens and their complements are: There are 3 types of packaging: individual packaging, outer packaging (blisters of 5 25 ball-point pens) and export cartons. Individual packaging is used for more expensive products. Blister packaging is meant for the grouping of more than 2 pens in one package. Export batches are used for the transportation of ball-point pens over longer distances and include the individual and the outer packaging. Hard-cover packaging should be used when transporting ball-point pens and their complements as they might lose their shape or get broken when pressured. Excelsior (wood wool) or bubble wrap should be used when packaging delicate articles (e.g. luxury pens, etc.). Moreover, they should be properly labelled as such. When packaging small articles with little weight, the method of agglomeration can be used. Small objects are typically grouped together in one package for reasons of efficiency. (e.g. 10 pens in a pack). Moisture does not generally affect ball-points and their complements. Nevertheless, the method of shipping should also be carefully considered. Labelling is very important in this market. The thickness of the tip of the pen as well as the colour of the ink and other features should be stated on the label. Ergonomic features should also be mentioned if applicable. Additional information on packaging can be found at the website of ITC on export packaging: http://www.intracen.org/ep/packaging/packit.htm Information on tariffs and quota can be found at http://export-help.cec.eu.int/ 6 Doing business

General information on doing business like approaching potential business partners, building up a relationship, drawing up an offer, handling the contract (methods of payment, and terms of delivery) can be found in CBIs export manuals Export Planner and Your image builder. Furthermore cultural awareness is a critical skill in securing success as an exporter. Information on cultural differences in the EU can be found in chapter 3 of CBIs export manual Exporting to the EU. These manuals can be downloaded from http://www.cbi.eu/marketinfo go to search publications. International business practices The report - The stationery, office and school supplies market in the EU (2006) also contains important information on logistics, terms of payment and delivery, terms of trade and general recommendations. For sector-specific information on that, one can use the link given above. Important sites: Directory of Spanish Export and Import companies - http://directory.camaras.org/ Spanish Chamber of Commerce (Registro Mercantil Central) - http://www.rmc.es/ Boleka - http://www.boleka.nl/ - Dutch trade association for stationery items NOVAKA - http://www.novaka.nl/index.cfm/4,html - Dutch trade association Agency assisting foreigners in doing business in the Nordic countries - http://www.anitamoeller.com ItalTrade - http://www.italtrade.net/ - Business to business international trade help Maison and Objet - http://www.maison-objet.com/ the official trade organization for stationery for France Sales promotion The report - The stationery, office and school supplies market in the EU (2006) also contains important information on trade fairs, international (trade) magazines, after-sales services, internet etc. An overview of the essential sites is given below.

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 16 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

Paperworld in Frankfurt - http://paperworld.messefrankfurt.com/ Trade fairs and exhibitions in UK - http://www.exhibitions.co.uk/ International Spring Fair in UK - http://www.springfair.com/ Trade fairs and exhibitions in Italy - Chibi and Cart - http://www.fmi.it/ More information about trade shows in Italy - http://www.biztradeshows.com/italy/ Italian Exhibitions and Trade Shows - http://www.eventseye.com/fairs/event_l21.html Scandinavian trade events - http://www.fairlink.se/ http://www.formland.com/gb/exhibitorinfo/praktisk-info/halloverview.asp Trade shows in Germany - http://www.biztradeshows.com/germany/ German Exhibitions and Trade Shows - http://www.eventseye.com/fairs/event_l161.html

Trade press OPI Magazine - http://www.opi.net/index.asp? BOSS - http://www.bitverlag.de/ Sector-specific magazine Le Papetier de France http://www.papetierdefrance.com/ - Trade press in France PNP Profession Nouveau Papetier mailto:eltapap@club-internet.fr -Trade press in France KantoorVak Trends and Design http://www.kantoorvak.nl/ - Trade press KBM, Kantoor Business Magazine http://www.kantoornet.nl/ - Trade press Manual - http://www.ifema.es/ - Trade press in Spain Stationery Trade News - mailto:adm.j@tmoffice.co.uk Stationery Trade Review - mailto:alison.bowie@nexusmedia.com

This survey was compiled for CBI by DCT b.v. in collaboration with Ms. Netto.

Disclaimer CBI market information tools: http://www.cbi.nl/disclaimer

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 17 of 18

CBI MARKET SURVEY: THE EU MARKET FOR BALL-POINT PENS

Appendix A General product description HS CODES 9608 10 10 9608 10 30 9608 10 91 9608 10 99 PRODCOM DEFINITION 36.63.21.13 BALL POINT PENS WITH LIQUID INK (ROLLING BALL PENS) (EXCLUDING WITH BODY OR CAP OF PRECIOUS METAL OR ROLLED PRECIOUS METAL) 36.63.21.15 BALL POINT PENS WITH BODY OR CAP OF PRECIOUS METAL OR ROLLED PRECIOUS METAL 36.63.21.17 BALL POINT PENS WITH REPLACEABLE REFILLS 36.63.21.19 BALL POINT PENS (EXCLUDING ROLLING BALL PENS, WITH BODY OR CAP OF PRECIOUS METAL OR ROLLED PRECIOUS METAL, WITH REPLACEABLE REFILL) 36.63.23.35 REFILLS FOR ROLLING-BALL PENS, COMPRISING THE BALL POINT AND INK-RESERVOIR 36.63.23.39 REFILLS FOR BALL POINT PENS, COMPRISING THE BALL POINT AND INK-RESERVOIR (EXCLUDING FOR ROLLING-BALL PENS) 36.63.23.55 PARTS OF ARTICLES OF HS 9608 36.63.23.55 PARTS OF ARTICLES OF HS 9608 n.a. PARTS OF BALL POINT PENS, FELT-TIPPED AND OTHER POROUSTIPPED PENS AND MARKERS, FOUNTAIN PENS, STYLOGRAPH PENS AND OTHER PENS AND PROPELLING OR SLIDING PENCILS, OF METAL, N.E.S; DUPLICATING STYLOS OF METAL n.a. PARTS OF BALL POINT PENS, FELT-TIPPED AND OTHER POROUS TIPPED PENS AND MARKERS, FOUNTAIN PENS, STYLOGRAPH PENS AND OTHER PENS AND PROPELLING OR SLIDING PENCILS, OF NON-METAL MATERIALS, N.E.S;DUPLICATING STYLOS OF NONMETAL MATERIALS

9608 60 10 9608 60 90 9608 99 20 9608 99 80 9608 99 92

9608 99 98

Source: CBI Market Information Database URL: www.cbi.eu Contact: marketinfo@cbi.eu www.cbi.eu/disclaimer Page 18 of 18