Shandong '08 auto-parts export value up 20%

Shanghai, February 9 (Gasgoo.com) Data from local customs authorities show that Shandong province of east China exported $1.88 billion worth of auto parts in 2008, up 20.5% from a year earlier. But the growth rate slowed by 23% from the 2007, with the December export value down 16.1% to $130 million.

In the January to July period, Shandong's auto-parts export value grew rapidly to $1.09 billion, up 31.8% year on year. But in August the export began to be affected by the global financial crisis, the export growth started to slow down and finally in December the export saw negative growth. From August to December, the auto-parts export value of the province grew 7.9% y/y to $790 million.

Last year, the general trade contributed $1.57 billion, or 83.5%, to the total auto-parts export value of Shandong province, up 20.4% y/y, and $300 million came from the processing trade, up 23.7% y/y.

Foreign-invested enterprises (including joint ventures) exported $1.04 billion worth of the province's auto parts in 2008, rising by 18.7% y/y and accounting for 55.3% of the total value. Exports by private companies earned $460 million, up 49.8% y/y.

The major destinations of the exports were the U.S., EU and S. Korea, with values of exports to these markets reaching $750 million (+8.1%), $420 million (+26.3%) and $130 million (+22.8%), respectively. The three markets account for 69.1% of the total value of Shandong's auto parts exports in 2008.

As the major exported products, clutches and related components generated $910 million in the export value, up 20.6% y/y, while the export value of wheels and related components reached $270 million, up 34.8% y/y.