The subprime mortgage crisis of United States already affected Chinese export. Guangzhou Customs said that the United States as Chinese largest export market has been replaced by EU and growth rate exports to the U.S. only 9% in 2007, down 9.7% over the previous year. January of this year, exports value of Guangzhou to United States about 6.02 billion U.S. dollars that increased 4.1% lower than the overall growth rate of 26.3%.
The export of clothing and plastic declined so fast Guangzhou Customs professionals said that the data analysis shows the affected products export to the U.S. from Guangzhou are: automatic data processing equipment and parts, apparel and clothing accessories, plastic products, air conditioners, and so on. Most of which declined by more than 20%. But the export of game consoles, phones and appliances stronger than before. The values of exports were 180 million U.S. dollars, 230 million U.S. dollars and 120 million U.S. dollars. Increased by 1.5 times, 49.7% and 24.1%. Customs also said that processing trade downturn again. In January 2008, the export value is 4.48 billion U.S. dollars increased by 0.4%. The general trade value is 1.18 billion up 11.3%. Processing trade export slumping Guangzhou Customs experts said that the reason of export to the United States slowing down is the subprime mortgage crisis that weakens the economy and decline consumer confidence then reduced demand for imports. Second, the RMB exchange rate causing decreased export revenue. In January 2008, the export value from Guangzhou to EU about 5.48 billion U.S. dollars, an increase of 38%. To ASEAN about 1.93 billion, and increase of 52.8%. Third, the United States always emphasis the quality of Chinese products and debase the customer confidence. Although export affected by the United States market, it is still the main market for Guangzhou. The factory should carefully catch up consumer demand in the United States and strive to raise the technological content and quality of products. Create new prospects for exports.
The export of clothing and plastic declined so fast Guangzhou Customs professionals said that the data analysis shows the affected products export to the U.S. from Guangzhou are: automatic data processing equipment and parts, apparel and clothing accessories, plastic products, air conditioners, and so on. Most of which declined by more than 20%. But the export of game consoles, phones and appliances stronger than before. The values of exports were 180 million U.S. dollars, 230 million U.S. dollars and 120 million U.S. dollars. Increased by 1.5 times, 49.7% and 24.1%. Customs also said that processing trade downturn again. In January 2008, the export value is 4.48 billion U.S. dollars increased by 0.4%. The general trade value is 1.18 billion up 11.3%. Processing trade export slumping Guangzhou Customs experts said that the reason of export to the United States slowing down is the subprime mortgage crisis that weakens the economy and decline consumer confidence then reduced demand for imports. Second, the RMB exchange rate causing decreased export revenue. In January 2008, the export value from Guangzhou to EU about 5.48 billion U.S. dollars, an increase of 38%. To ASEAN about 1.93 billion, and increase of 52.8%. Third, the United States always emphasis the quality of Chinese products and debase the customer confidence. Although export affected by the United States market, it is still the main market for Guangzhou. The factory should carefully catch up consumer demand in the United States and strive to raise the technological content and quality of products. Create new prospects for exports.
