Suzhou now No 3 in foreign trade value as total exceeds US$200 billion

2008-2-1

The Pearl River Delta city of Suzhou's foreign trade value surpassed US$200 billion and reached $210.8 billion in 2007, up 21.5 per cent year on year, Logistics Week reported.

The value was the third largest posted in China after Shanghai and Shenzhen, taking up 9.7 per cent of the country's total.

Last year, Europe and the US continued to be the city's largest export markets but new markets such as Latin America and Africa were rapidly emerging.

Exports to Mexico surged 59.9 per cent to $1.42 billion. Exports to Brazil soared 81.6 per cent to $890 million and exports to Africa increased 43.5 per cent to $1.03 billion.

The report quoted an expert who said exploring new business can help to avoid risks caused by concentrating on a few major markets.

High-tech products represented 51.6 per cent of the city's trade. Such exports rose 32.6 per cent to $65.7 billion while import value increased 13.8 per cent to $43.4 billion.

The processing trade increased 19 per cent up to $155.3 billion while general trade increased 32.3 per cent to $21.9 billion.

Source: Schednet
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