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Upturn in Jiangsu’s foreign trade

25 July 2012
Official statistics show that foreign trade in Jiangsu province increased by 1.4 per cent year-on-year to US$260.8bn during the first six months of 2012, with a year-on-year growth of 10.3 per cent in June.

Foreign trade with the European Union, Jiangsu’s largest partner, declined by 9.1 per cent in the first half of the year. This had a significant impact on the overall total, though no precise figure was published. Foreign trade with Latin America and Africa increased by 17.5 per cent and 22 per cent respectively. Three of the province’s pillar exports – laptops, solar panels and ships – have suffered sharp declines due to intense competition and decreased demand.

A recent survey showed that one-third of Jiangsu’s export companies reported decreased orders and therefore reduced material imports. Experts believe that unless the Euro zone crisis stabilises, Jiangsu cannot expect a better foreign trade performance in the second half of the year.

The province accounts for nearly two-thirds of annual traffic volume on the Yangtze River.

     
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