Guangdong's trade returning to pre-downturn level

GUANGDONG, the largest foreign trade province in China, is returning to throughput levels experienced before the global downturn, but recovery is weaker than in other provinces, according to Logistics Week.

According to the statistics from the Guangdong Customs, during the first two months, the province achieved a trade value of US$92.6 billion, up 31 per cent year on year but that was lower than the national growth of 44.8 per cent, taking up 24 per cent of the national trade value total.

In February, Guangdong recorded a trade value of $43.7 billion. Export value was $24.95 billion. Import value was $18.7 billion. Growth in the three sectors was 28 per cent year on year compared to the national growth rate of 45 per cent, and was much lower than that of Beijing, Shanghai, Jiangsu and Zhejiang.

Guangdong trade with major markets increased. During the first two months of the year, Guangdong's export to Hong Kong increased 12 per cent, to the US by 11.6 per cent and to the EU by 25.3 per cent, which accounts for 63.4 per cent of the provincial export total.

Guangdong's exports to ASEAN soared 59.4 per cent while imports from ASEAN surged 48.3 per cent to $6.2 billion.

(Source: www.schednet.com)