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Business with OBOR countries increased drastically in Canton Fair Phase 1

2015-April-20       Source: Newsgd.com

The first phase of 117th Canton Fair ended yesterday (April 19th). The volume of trade in mechanical and electrical products hit 7.37 billion USD.

The first phase of 117th Canton Fair ended yesterday (April 19th). The volume of trade in mechanical and electrical products hit 7.37 billion USD.

The trade with the countries along the One Belt and One Road region increased drastically to hit 2.65 billion USD, among which trade with Vietnam totaled 160 million USD, up 222.3%. Besides Vietnam, Brunei, Uzbekistan, Syria, Serbia and other countries saw their trade in the fair up by more than 100%.

The turnover with EU countries was 1.68 billion USD, 34.72% of the total turnover in the first phase, up 61.6% than phase I of the 116th session. Many exhibiting companies indicated that the number of European buyers increased in this session, and they have prepared products specifically targeting European customers.

Due to the two-way fluctuation of the RMB exchange rate, the trade with Japan, Russia and US has decreased massively, with the decreasing rate of 31.4%, 30% and 25.9% respectively. But according to many exhibiting companies, because of the Spring Festival, the exporting situation in the first quarter was not so good, “but it will speed up greatly in the second quarter and the third quarter, and it is the same situation judging from the orders in this Canton Fair”.

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Editor: Nan

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