Fujian '08 Auto-parts Export-import Slows Down
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The export generated $710 million yuan, up 35.8%, slower than the 64.5% growth of 2007; the import value hit $130 million yuan, down 4.2%, compared with the 89.5% growth of the previous year.
In the January to August period, Fujian's auto-parts export value grew rapidly, with the peak occurring in March when the export earned $100 million, up 2.9% year on year. But in September the export growth slowed down to 7.5% amid the global financial crisis, and in October-December the export saw negative growth.
The province's import of auto parts grew in the February-August period, with April as the peak when the import value hit $20 million, up 81.3% year on year. In September, the import began to fall.
Last year, the general trade contributed $640 million, or 90.4%, to the total auto-parts export value of Fujian province, up 37.9% y/y, and the import value reached $130 million by general trade, falling by 8.2% from 2007 and accounting for 92% of the total imports.
Foreign-invested enterprises exported $260 million worth of the province's auto parts in 2008, rising by 45.7% y/y. Exports by private companies generated $260 million, up 37.2% y/y. Exports by state-run enterprises hit $170 million yuan, up 23.2%.
The imports of foreign-invested companies reached $120 million yuan, falling by 3.7% from 2007 and accounting for 86.8% of the total imports in 2008. Imports of private enterprises hit $20 million, down 1%.
The major destinations of the exports were the ASEAN ($200 mln, +24.9%), U.S. ($80 mln, +11.8%) and EU ($70 mln, +9.9%). The three markets account for 49.5% of the total value of Fujian's auto parts exports in 2008.
Meanwhile, the three major origins of the imports were Japan ($70 mln, +5.4%), U.S. ($20 mln, +6.9%) and Taiwan ($20 mln, -49.1%). The imports from Japan accounted for 52.7% of the total import value.
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