Tuesday 23 July 2024

Canton Fair reports export business of $30bn

HONG KONG, May 20, 2018

The 123rd China Import and Export Fair, widely known as the Canton Fair, recently concluded and reported total export volume at 189.197 billion yuan ($30.08 billion), a 3.1 percent increase from last year's spring session.

The event which was held in China revealed that the final figures were the highest total for the spring exhibition in four years, said a statement.

Machinery and electronic products still lead in trade volume with turnover of $15.89 billion, accounting for 52.8 per cent of the total, it said.

Light industrial goods achieved a transaction volume of $8 billion, which was 26.6 per cent of the gross turnover and 7.6 per cent increase over last spring, it added.

The fair was attended by 203,346 buyers from 214 countries and regions, a 5.3 percent year-on-year increase and the highest in five years. The number of buyers from countries included in China's Belt and Road Initiative reached 90,576, which marked 3.86 percent year-on-year increase, said a statement.

The event also welcomed 1,076 global chain purchasing companies, 109 of which are ranked among the top 250 worldwide, including Walmart, Carrefour, Schwartz, Amazon and Aldi, it said.

Textile and garment transactions reached $1.42 billion. The brand exhibition sector also performed well, with $10.07 billion worth of transactions logged, which accounted for 33.5 per cent of the gross turnover.

Xu Bing, Canton Fair spokesman and deputy director of China Foreign Trade Centre, said: “The fair has always adhered to high quality development and we've upgraded the fair experience with innovative technologies as well as making it green and pro-environment, the exhibitors have showcased positive progress in new product development, brand building and diversification of market development.”

"The fair is a leading platform to connect global manufacturers and buyers. By optimising the exhibition layout and structure, we are able to provide precise marketing and matching services to promote imports and exports,” he added. – TradeArabia News Service

Tags: | export | business | Canton Fair |

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