Guangzhou export growth is expected to keep falling in the fourth quarter as the financial crisis exerts an increasing impact on local economies.
The city's foreign trade value went up 16.4 per cent year on year to US$62.88 billion in the first three quarters. The export value remained stable at $32.6 billion, up 17.9 per cent which was 4 per cent higher than Guangdong's average level, while the import value rose 14.9 per cent to $30.2 billion.
Affected by the slack demand in the US this year, Guangzhou's export volume growth shrank 0.2 per cent in the first three quarters. But meanwhile, its exports to the EU and Japan still kept at a growth rate at 20 per cent or so with a 33.9 per cent increase in the ASEAN exports and a 26 per cent growth in some other emerging markets, which, to some extent, has made up for its loss in American export markets.
The city's foreign trade value went up 16.4 per cent year on year to US$62.88 billion in the first three quarters. The export value remained stable at $32.6 billion, up 17.9 per cent which was 4 per cent higher than Guangdong's average level, while the import value rose 14.9 per cent to $30.2 billion.
Affected by the slack demand in the US this year, Guangzhou's export volume growth shrank 0.2 per cent in the first three quarters. But meanwhile, its exports to the EU and Japan still kept at a growth rate at 20 per cent or so with a 33.9 per cent increase in the ASEAN exports and a 26 per cent growth in some other emerging markets, which, to some extent, has made up for its loss in American export markets.