Guangdong Province's exports to the European Union (EU) reached above US$4.49 billion in the first two months of the year, a year-on-year growth of 29.9 per cent.
The southern Chinese province's main exports to the EU in January and February were machinery and electronic products.
Meanwhile, Guangdong's imports from the EU have also seen an increase this year, according Tan Yanhua, an expert from Guangdong Customs yesterday.
"The EU is currently the third biggest trading partner of Guangdong Province, following
Hong Kong Special Administrative Region and the United States this year," said Tan.
But it was the mounting pace of Guangdong's foreign trade with the EU that has sparked interest.
The province's exports to
Hong Kong grew a lesser 18.1 per cent to US$8.93 billion while orders from the United States increased year-on-year 20.1 per cent to US$6.36 billion in January and February.
Guangdong's other major buyers also included Japan, the Association of Southeast Asian Nations, MiddleEast countries and South Korea. They purchased US$1.69 billion, US$1.21 billion, US$690 million and US$530 million worth of Guangdong products in the past two months respectively.
Tan attributed Guangdong's increasing exports to the EU to the good relations between China and Europe. "Expanding Sino-European economic ties have greatly benefited Guangdong's foreign trade," Tan told China Daily.
The growth in exports to the EU this year helped Guangdong, China's largest provincial trader, achieve a total import and export volume of US$49.57 billion in the first two months of 2005, up a year-on-year 13.2 per cent and accounting for 27.6 per cent of the country's total, according to statistics released by Guangdong Customs yesterday.
Guangdong's imports grew 5.1 per cent on a yearly basis to US$22.77 billion while exports increased 21.2 per cent to US$26.8 billion in January and February.
Guangdong's export volume from general trade reached US$6.33 billion in the first two months, a growth of 46.3 per cent over 2004, while exports from the processing sector came to US$19.29 billion, up a year-on-year 14.1 per cent. Machinery and electronic products, new and high-tech products, textiles, garments and shoes have become Guangdong's major foreign exchange earners this year.
Exports of machinery and electronic products reached US$17.98 billion, up 22.7 per cent and representing 67.1 per cent of the province's total.
