China is still place to be for electronics firms
Continuing concerns over the European and US economies were felt at the Canton Fair in China last month, although the slowdown was far less than many had expected.
The trade show still reported impressive numbers with 210,000 buyers from 213 countries and regions had attended, up slightly on last year.
Troubling times in the US and the Europe were reflected in the total value of export deals concluded at the Fair.
These fell 2.3% year-on-year to $36.03bn, down 4.8% on the figure from last year’s autumn session.
The trade volume of the US and the Europe was down 8.1% and 5.6% respectively.
On a positive note the number of export deals concluded with companies based in emerging markets – such as India, Brazil and Russia – displayed an encouraging 4.1% increase.
The volume of trade with African countries also rose sharply to 13.5%.
David Noon of UK-based Itsumo Fatinos Ltd. said “I can’t wait to come back.”
The 112th Session of Canton Fair will run from October 15th to November 4th, at Canton Fair Complex in Guangzhou. The electronics and electrical segment runs from Oct 15 – 19.