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Guangdong sees jump in US exports Guangdong's US exports reached US$36.38 billion between January and October of this year, up 21.2 per cent over the corresponding months of last year. And the province's US imports have also witnessed a big rise since the beginning of this year, a Guangdong Customs official said yesterday. The United States was Guangdong's second largest trading partner in the first 10 months. Only Hong Kong tops Guangdong's American trade figures. Hong Kong purchased US$53.39 billion in products from Guangdong from January to October of this year, up 25.6 per cent year-on-year. Tan Yanhua, the Guangdong Customs official, attributes the trade growth between Guangdong and the United States to continuously improving Sino-US economic ties and a global economic recovery this year. US Secretary of State Colin Powell also said late last week the United States now is enjoying the "best" relationship it has had with China in three decades. Sustainable trade growth between Guangdong and the United States and Hong Kong have helped the southern Chinese province achieve an import and export volume of US$284.62 billion in the 10 months ending in October. The figure represents an increase of 25.1 per cent from the same period for the previous months, and accounts for more than 30 per cent of China's total, Tan said. And Guangdong's foreign trade volume in the first 10 months was more than last year's total, Tan said. Guangdong's exports hit US$150.23 billion in the first 10 months, up year-on-year 23.5 per cent, while imports grew even faster at 27 per cent to US$134.39 billion. The province had a foreign trade surplus of US$15.84 billion from January to October. Guangdong's other big trade partners also include the new European Union (EU), Japan and the Associations of Southeast Asian Nations (ASEAN). Guangdong's exports to the EU which include 25 European nations stood at US$21.64 billion in the first 10 months this year, up year-on-year 19.2 per cent. And the province's exports to Japan and ASEAN increased year-on-year 6.3 per cent and 23.7 per cent to reach US$10.05 billion and US$7.17 billion respectively. Electronic and machinery products became the major foreign currency earners in Guangdong in the first 10 months this year. Guangdong's export volume from electronic and machinery products grew 28.2 per cent to be US$100.68 billion between January and October, representing 67 per cent of the province's total export volume. Other major foreign currency earners also included textile and garments, shoes, toys, furniture and their parts, toys, plastic products and agricultural products. Exports from general trade increased 30.2 per cent to hit US$30 billion in the first 10 months while exports from the processing industry reached US$113.92 billion, up 21 per cent. Non-State sectors continued to play a bigger part in Guangdong's foreign trade industry this year. Exports from foreign-funded companies and joint ventures reached US$95.06 billion between January and October, up year-on-year 26.4 per cent and representing more than 60 per cent of the province's totals. And exports from privately operated firms and collective companies saw even bigger growth of 60 per cent to come to US$20.66 billion from January to October. Guangdong's import volume from general trade were at US$36.95 billion, up 26 per cent year-on-year, while imports from the processing industry came to US$80.31 billion, a year-on-year rise of 22.8 per cent. |
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