Canton Fair sees small export rise amid Europe and U.S. crises
2011-November-7 Source: China View website
Text Size: A A A | Print | Share by E-mail:

The Canton Fair, China's largest trade fair, reported a small increase in export deals, despite lingering debt and financial crises in Europe and the United States.

Export agreements worth 37.9 billion U.S. dollars were signed at the 110th Canton Fair, up 3 percent from the last session, which was held in the first half of the year, according to Liu Jianjun, the fair's spokesman.

The fair received a record 209,175 buyers, up 1 percent from the last session, Liu said.

The fair saw strong demand for export orders from emerging economies, including Africa, Asia, Latin America and post-quake Japan, he said.

But demand from China's two biggest importers, the Europe and the United States, slumped 19 percent and 24 percent, respectively, due to the debt crisis in Europe and a high jobless rate in the U.S.

Liu said 88 percent of the orders will be filled within the next six months, indicating that exporters are wary of making long-term deals.

"This reflects caution in the international market, as traders did not dare to make long-term orders," said Liu. "Our exporters also did not wish to deal with long-term orders, as they are worried about fluctuations in materials costs and foreign exchange rates."

The 110th Canton Fair, which opened on Oct. 14 in south China's city of Guangzhou, concluded on Friday.

Editor: Olivia
Related News
This site contains material from other media for content enrichment purpose only. The website do not endorse such content and do not bear the joint responsibility of their copyright infringement. The views expressed in written material posted to the bulletin boards of are those of the authors and/or publishers. The website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content. For copyright infringement issues, you shall contact within thirty (30) days. Email:
Info for Non-Residents