China Export is Not That Bad
Author: Feb 03, 2012 08:56
|
See from the information reflected by the latest Canton fair, the current export situation of China is not that bad as some people said.
China economist Lu Ting recently released a report, in his opinion, according to the order amount of the 110th autumn canton fair, China export is slowing down, but still it is not depressed.
The Canton fair is held twice a year, including spring and autumn once each. According to official data of the Canton fair, the 110th fair closed on 4th Nov, 2011, the turn over amount is 37.9 billion dollars, which is the second highest over its history, among which, autumn canton fair order amount increased by 8.8%, year on year. Lu Ting believes, if the eurozone do not disintegrate, such a growth will support China economy soft landing.
Lu Ting analyzed, though orders growth slumped, comparing with 14.3% of 2010, in compare with the average growth 10% over the past decade, 8.8% is not too bad.
Canton turnover may forecast the future China export growth. Lu Ting said; see from trade orders of the autumn Canton fair, China export growth is expected to increase by 13.5% in the fourth quarter of 2011 and 10% in 2012.
See from the data, Oct foreign demand growth further slowed down, which will force China export growth downward.
Financial report indicates, forecast of October export growth by experts is 15.9% on average, dropped by 1.2% in compare with that of September. Import growth rate is 21.3% on average, increased by 0.4% in compare with that of September. Favorable balance of trade is estimated around 24.56 billion, increasing by 10 billion US dollars, comparing with that of September.
2011 spring and autumn canton fair export order turnover increased by 3%. Reduce of American and European orders have been offset by Japanese and new emerging markets.
In compare with spring of 2011, trade orders from America and Europe has reduced by 24% and 19% respectively, while Japan order is increased by 28% after earthquake. As for new emerging markets, trade orders from Brazil, India and Russia has increased by 9%, comparing with that of spring. Orders from new emerging market have increased by 39%, year on year.
For economy developed, raw material and exchange rate is uncertain, autumn canton fair will still focus on medium term orders. Among which, orders shorter than six month takes 88% of the total number, which is caught the line with that of the spring fair.
See from data of 2011 China textile and garment export, 2011, China garment export has kept a double-digital growth rate.
|
Editor: Candy From: 168Tex.com
Most Read