Jiangsu Port Auto Parts Export Growth Slowed Down

According to statistics from Nanjing Customs, from January to November 2011, Jiangsu Port exported a total of 890 million U.S. dollars of auto parts, an increase of 8.9% year-on-year, far lower than the 69.4% increase in the same period of 2010. It is reported that since September, the year-on-year growth rate of auto parts exports in Jiangsu ports has been negative for three consecutive months.

According to the analysis of the relevant departments, the export of auto parts in Jiangsu port has seen negative growth year-on-year for three consecutive months, mainly due to the fact that the risk of global autos has slowed down due to the increased risk of the second bottom of the world economy, which in turn has driven down the growth rate of auto parts exports in China.

In addition, the United States and South Korea free trade agreement is expected to be implemented next month, after the formal implementation of the auto trade between the United States and South Korea will increase significantly. According to the data, the Jiangsu port's export of auto parts to South Korea dropped by 50% year-on-year for the third consecutive month. In November, it exported 25.11 million US dollars to the United States, a year-on-year decrease of 29.4%.

Analysts suggest that in response to foreign trade risks both at home and abroad, companies should increase their own R&D efforts, or acquire advanced technologies through overseas mergers and acquisitions, get rid of production patterns that focus on low-end products, attach importance to brand building, break technical and trade barriers, and truly enhance The product's ability to resist risks.