After 12 months of year on year drop, Guangdong's import and export went up in November. Experts suggest the province not to be too optimistic, for there is no solid foundation for economic recovery in short term.
China Customs Guangdong branch yesterday (Dec 14) announced that in the first eleventh months of 2009, Guangdong import and export hit 540 billion USD, a year on year down of 14.3 percent compared with last year. However, the drop is much smaller than China's average 17.5 percent.
In November, Guangdong's foreign trade rose by 12.4 percent, outdid China's average by 2.6 percent. The province sold 35 billion USD goods to oversea markets, the highest monthly export of the year.
The month also saw rebound of Guangdong's export to its main target markets: export to Hong Kong had its first rise of the year and hit 12 billion USD. Export to ASEAN countries booked a 23 percent surge to 2.7 billion USD. India became the biggest rising partner of Guangdong, with an export surge of 38 percent.
Electronic products, machinery and hi-tech products saw their drop slowing down, while garments, shoes and bags suffered a bigger decrease than last month. However, agricultural products had a 3 percent increase and book a 4.3 billion USD export.
Source: Newsgd.com
