Foreign Trade Surplus Hit 19 Month Low

Yesterday, the reporter learned from the Foshan customs that the total value of foreign trade and import and export in our 1~2 month was 6 billion 50 million US dollars, up 18.6% from the same period last year (the same below), the trade surplus reached a new low of 19 months, and exports to the United States slowed down but maintained a high growth rate for the European Union.

In the first two months of this year, the import and export trade of our city has maintained a relatively high growth rate, with an increase of 30.3% and 39.7% respectively.

With the acceleration of import growth, the trade surplus began to shrink, from 1 billion 310 million US dollars in December last year to US $1 billion 150 million in January, and then to US $870 million in February. The trade surplus gradually narrowed, and the surplus in February also reached a 19 month low.

In 1~2 months, foreign investment enterprises in our city increased import and export volume of 3 billion 740 million US dollars, an increase of 22.2%, accounting for 61.8% of the total foreign trade import and export value of our city, and continued to occupy the leading position in the city's foreign trade. Private enterprises imported and exported 1 billion 540 million US dollars, an increase of 20.7%, accounting for 25.5% of the total foreign trade import and export value of the city.

Although private enterprises have fallen behind foreign-funded enterprises in the proportion, their foreign trade imports have entered a stage of rapid development. The growth rate of private enterprises' imports has exceeded 4 in 1~2 months, reaching 40.3%.

Exports to the US dropped by 13%, and the US economy declined since the end of last year. Foshan's exports to the United States and imports from ASEAN have slowed down, but bilateral trade with the EU, Hongkong and Japan has maintained growth.

Data show that in the first two months of this year, the top 5 Import and export trading partners in the city were EU, Hongkong, the United States, ASEAN and Japan, with the exception of Japan.

The total volume of foreign trade with the EU was 1 billion 110 million US dollars, an increase of 27%; and the total foreign trade volume of Hongkong was 960 million US dollars, an increase of 8.9%; and the total foreign trade volume of the United States was 720 million US dollars, a decrease of 8.2%; the US exports 630 million US dollars, a decrease of 13%; and the total foreign trade volume of the ASEAN was 470 million US dollars, down by 2.7%.

Although exports to Japan amounted to 190 million US dollars, an increase of 6.4%, but imports from Japan amounted to 270 million US dollars, an increase of 28.8%, showing a trade deficit of 80 million US dollars.

In terms of product imports, imports of mechanical and electrical products, high-tech products, steel products, integrated electrical appliances and agricultural products all maintained a two digit high growth rate.

The export value of shoes and toys declined in 2008. Although the traditional industries such as clothing, textiles, furniture, ceramics and other traditional industries in Foshan maintained sound development, the export value of shoes, toys, plastic products, lamps and agricultural products declined as a result of the appreciation of the renminbi, the "made in China" crisis, anti-dumping and other factors.

In 1~2 months, the export of mechanical and electrical products in Foshan was 2 billion 580 million US dollars, an increase of 16.6%, accounting for 63.9% of the total export value of the city, and exports of high-tech products, clothing, furniture and ceramics increased to varying degrees.

Over the same period, the export value of shoes, toys, plastic products, lamps and lanterns and agricultural products declined. The export footwear was 94 million 30 thousand US dollars, down by 8.6%; the export toys were 31 million 660 thousand US dollars, down by 9.1%; the export plastic products were US $37 million 620 thousand, down by 4.4%; and the export lamps, lighting fixtures and similar articles were 76 million 900 thousand US dollars, down 12.4%.