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Guangdong exports to US advance in 2008
May '08
According to Guangzhou Customs, from January to April 2008, Guangdong exports to the United States reached nearly US $22.62 billion, showcasing a rise of 6.3 percent from the same period last year. However, the exports are far lower than the overall growth rate of 15.2 percent of Guangdong.

In the first four months of 2008, Guangdong's import and export value with US reached almost $27.35 billion, an increase of 8.2 percent.

Of which imports from the US amounted to nearly $4.73 billion, a rise of 18.4 percent, higher than the overall growth rate of 12.7 percent, when compared to same period of 2007. The trade surplus reached $17.89 billion, the growth rate decreased to 3.6 percent, down 5.8 percentage points.

United States remained the second largest trade partner of Guangdong, however, growth of trade volume was lower in comparison with other trade partners including EU with 27.2 percent and Association of Southeast Asian Nations (ASEAN) with 19.7 percent from January to April 2008.

In the first four months of 2008, trade with ASEAN reached approximately $8.24 billion, a reduction of $1.09 billion, from the same time last year.

Footwear and furniture are major exporting products of Guangdong to US and the province earned revenue worth $1.64 billion and $1.34 billion, growing by 10.6 percent and 11.8 percent.

However, exports of textile and garment observed a decline of 18.7 percent and earned $1.07 billion foreign currency.

Fibre2fashion News Desk - China

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