Involvement In The US And EU Markets Shrink, Jiangsu'S Export Growth Slows Down In June.

The latest statistics show that Jiangsu's 1~2 value of foreign trade continued to maintain its second position in the whole country this year, but the export growth rate has been slowing for sixth consecutive months.

In the first two months of this year, the cumulative trade surplus was $9 billion 90 million, an increase of only 0.7%.

In September 2007, Jiangsu's exports grew by 28.4% year-on-year, and in February this year the figure has slowed to 12.1%.

The slowdown in export growth of electromechanical products is one of the main factors leading to the downward trend of Jiangsu's exports.

Nanjing customs data show that in the 1~2 month of this year, Jiangsu exported 23 billion 320 million dollars of electromechanical products, accounting for 68.8% of the total export value of the province, an increase of 14%, the growth rate was 30.5 percentage points lower than the same period last year.

Over the same period, the export garments and accessories of Jiangsu increased by 2 billion 560 million US dollars, an increase of 8.8%; exports of textile yarn, fabrics and products increased by US $1 billion 640 million, an increase of 16%; and export footwear products increased by US $190 million, an increase of 5%.

The contraction of European and American markets is another factor affecting Jiangsu's slowdown in exports.

The EU is Jiangsu's largest export market. Jiangsu's total exports to the EU decreased from 4 billion 850 million US dollars in January to US $4 billion 220 million in February, while exports to the US decreased from US $3 billion 410 million in January to US $3 billion 50 million.

On the contrary, the trade between ASEAN and Jiangsu increased rapidly, and the trade volume with ASEAN was 6 billion 660 million US dollars, an increase of 33%, of which 3 billion 340 million US dollars (1~2 months) increased 46.8%.