Jiangsu '08 auto parts export value rises 16%

Shanghai, February 6 (Gasgoo.com) Jiangsu province of east China exported $680 million worth of auto parts in 2008, up 15.8% from a year earlier, according to data released today by China Customs. But the growth was 19.4% slower than the previous year's.

The monthly export value had been severely affected by the global financial crisis in the last two months of last year. Before October 2008 the province's monthly export value stayed at $58 million, but that figure fell to $51 million in November and $46 million in December, down 5.5% and 21.9% respectively.

Of the total export value, $460 million came from the processing trade, increasing 1.8% year on year and accounting for 67.7% of the total value; $220 million came from the general trade, surging 61.3% year on year.

It also worth noting that the major part of the products were exported to Japan and the U.S., with $270 million (+9.4%), $150 million (-15.6%) worth of products exported for each of the two destination markets. The two countries account for 61.8% of the total value of the total auto parts exports in 2008.

As to the company type, wholly foreign-owned enterprises exported $540 million worth of auto parts in 2008, up 3.8% year on year and accounting for 79.4% of the total.