Export orders decrease at China’s biggest trade fair

07 May 2012 08:39  [Source: ICIS news]

SINGAPORE (ICIS)--China secured $36.06bn (€27.41bn) worth of export orders at the country’s biggest trade exhibition, the 111th China Import and Export Fair, 4.8% less than at the previous session, an event spokesman said over the weekend.

The order decrease was largely caused by lower demand from major economies, such as the EU and the US, China’s biggest trade partners, said Liu Jianjun, spokesman of the fair and deputy director of the China Foreign Trade Centre.

Orders from EU and US decreased by 5.6% and 8.1%, respectively, because of the debt crisis and poor employment situation, Liu added.

However, demands from emerging markets increased.

Orders from India, Brazil, Russia and South Africa increased by 4.1%, while orders from Africa surged by 13.5%, according to Liu.

Approximately 86.3% of the orders made were for deliveries within six months, and the remaining 13.7% were for deliveries to be made more than six months later, said Liu.

According to Liu, this indicated that buyers were unwilling to book long-term orders to avoid risks caused by market changes, while exporters were reluctant to accept long-term contracts as they worried about fluctuations in raw materials prices and exchange rates.

The twice-a-year fair, which is also known as the Canton Fair, is considered to be indicative of the country’s export situation in the next half-year.

The fair takes place every April and October and the latest session was held from 15 April to 5 May.

Liu added that the number of visitors at the spring session, hit a new high of 210,000, 0.23% more than the autumn session in 2011.

($1 = €0.76)

By: Fanny Zhang
+65 6780 4359

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