BEIJING (Reuters) – Export orders to the United States at China’s latest Canton fair dropped 30.3 percent from a year earlier by value, the fair’s organizer China Foreign Trade Center said, as China’s trade row with its biggest trading partnet escalated.
Export orders to Australia and Canada fell 8.9 percent and 7.3 percent, respectively, at the autumn session of the Canton fair, which is held twice a year in Guangzhou in southern Guangdong province.
However, outbound orders to Japan, ASEAN countries, BRICS and South Korea showed a year-on-year rise, China Foreign Trade Center said in a statement on its website on Sunday.
Japan led the increase with a 74.4 percent jump.
Overall export deals at China’s biggest trade fair fell 1 percent to 206.5 billion yuan ($29.86 billion).
Exhibitors at the just-concluded fair said they were pessimistic about the export outlook next year given the rising cost of raw materials and labour in China as well as an expected widening in the impact from the Sino-U.S. trade frictions, according to the statement.
($1 = 6.9155 Chinese yuan renminbi)
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