Why Does Guangdong'S Export Growth Slow Down In June?

Affected by the continued appreciation of the RMB, rapid increase in production costs and the heavy rain and flood in June, the export volume of Guangdong in June increased by only 2% compared with the same period last year (the same below), which failed to achieve the expected target of 10% growth in Guangdong's exports, and far lower than the 17.6% growth rate of the national export.

According to the data released yesterday by the Guangdong branch of the General Administration of customs, the total value of foreign trade and import and export of Guangdong in 2008 1~6 was 324 billion 510 million US dollars, an increase of 13.4%, lower than the 26.3% growth rate of the whole country, accounting for 26.3% of the total import and export value of the whole country.

Of which, exports amounted to 187 billion 830 million US dollars, an increase of 13%, lower than the national export growth rate of 21.9%, accounting for 28.2% of the total national exports; imports of 136 billion 680 million US dollars, an increase of 13.9%, lower than the national 30.6% growth rate of imports, accounting for 24.1% of the country's total imports.

Guangdong realized a surplus of 51 billion 150 million US dollars in 1~6 months.

In June, the total value of Guangdong's foreign trade imports and exports was 58 billion US dollars, an increase of 5.5%, lower than the 23.3% growth rate of the whole country, accounting for 26.2% of the total import and export value of the whole country.

Among them, exports amounted to 34 billion 90 million US dollars, an increase of 2%, lower than the national export growth rate of 17.6%, accounting for 28.1% of the total national exports; imports of 23 billion 910 million US dollars, an increase of 11%, lower than the national 31% growth rate of imports, accounting for 23.9% of the country's total imports.

Although the first half year of Guangdong's foreign trade reached the target of the whole year, the report cards failed in June, and the total import and export volume and export volume increased by less than 10%.

According to the information released by the Guangdong provincial foreign trade and Economic Cooperation Department, the main target of Guangdong's foreign trade in 2008 is: the total value of import and export trade has increased by 10%, of which the export growth is 10%, and the import growth is 10%.

Ding Li, deputy director of the scientific research department of the Guangdong Academy of Social Sciences and deputy director of the regional competitiveness research center, said in an interview with the first Financial Daily yesterday that the slowdown in exports in June was related to the storm flood and industrial pfer.

It is understood that the Guangdong Academy of social sciences has been investigating the situation of Guangdong's industrial pfer.

In June this year, most parts of Guangdong were attacked by heavy rain for many days. Many enterprises were interfered in the normal production, sale and pportation, which also affected Guangdong's foreign trade to a certain extent.

A shoemaking company told reporters that the production of Dongguan processing plant had been interrupted for several days due to floods, and production and export were not normal in June.

According to the information released by the Guangdong Provincial Department of communications, due to the influence of heavy rain, the traffic in Guangdong province was affected to varying degrees in June. A number of provincial roads and county roads were interrupted in the whole province.

The official announcement also showed that many factories were subjected to flooding and forced to shut down.