SHENZHEN exports and imports grew for the first time in November after shrinking for 10 successive months this year, a sign of improving global demand, Shenzhen Customs said Wednesday.
Foreign trade last month totaled US$27.87 billion, up more than 10 percent from a year earlier. The trade figures for November were the best in a year with exports falling just 0.9 percent to US$16.05 billion from the same month of 2008 and imports rising 30.2 percent to US$11.82 billion.
The trade surplus stood at US$4.23 billion. Retail sales, factory output and investment also saw robust growth last month.
In comparison, China's exports fell 1.2 percent last month, the smallest decline since they collapsed in November 2008, when imports jumped 26.7 percent.
Li Jian, a researcher with the city's urban development research center, said the figures were "encouraging."
"The decline in exports narrowed greatly in November because external demand is improving," Li said. It should have taken longer for Shenzhen's economy to recover as it was among the hardest hit by the global downturn and benefited the least from the Central Government's stimulus package.
This year's foreign trade figures showed a steady recovery. Shenzhen's foreign trade in the 11 months to November totaled US$238 billion, down 13 percent from a year ago, compared with a 15.7 percent decline in the first 10 months this year.
Exports in the 11 months this year totaled US$142.76 billion, down 12.8 percent, compared with a decline of 15 percent for the first 10 months. Imports were down almost 14 percent to US$95.23 billion, compared with a steeper decrease of 18 percent in the 10 months to October.
Last month, Shenzhen shipped more goods to Hong Kong, ASEAN countries, the United States and the European Union than a month earlier.
Customs statistics also showed exports of machinery, telephone sets, video players and furniture all recovered in November.
"It won't be a problem for the city to achieve its goal of a 10-percent GDP growth this year," Li said.
Source:Shenzhen Daily |
