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Canton Fair reports export turnover of $29.8bn

BEIJING, November 12, 2018

The 124th edition of the China Import and Export Fair (Canton Fair) which concluded recently in Guangzhou, China, recorded total export turnover of 206.5 billion yuan ($29.8 billion), with 77,733 new buyers attending the fair.

Canton Fair wrapped up after recording substantial increases in export orders to countries in China's Belt and Road Initiative (BRI), said a statement.

The total export turnover marked a jump of 2.34 per cent, and buyers from countries and regions along the BRI growing by 0.16 per cent to 84,578, it said.

The fair hosted a total of 189,812 buyers from 215 countries and regions, while seven of the top 10 buyers were BRI countries and regions such as India and Russia, it added.

Exports orders from those countries and regions increased 2.7 per cent to $9.63 billion, accounting for 32.3 per cent of the total value of orders placed, representing a 2.7 per cent year-on-year increase.

Xu Bing, deputy director general of China Foreign Trade Centre, said: “The increasing number of buyers from developing countries and emerging markets at the Fair reflects the optimised structure and steadily-improved quality of buyers.”

“Diversified global buyers can help enterprises efficiently consolidate traditional markets, explore emerging and potential markets, and optimise their layout in the international market,” Bing said.

Turnover of machinery and electronics products reached $16.187 billion, while that of light industrial products reached $7.299 billion, while that of textiles and apparel $1.514 billion.

Buyers from the electronic and home appliances sectors accounted for 40.2 per cent of total attendance. Buyers looking for consumer goods accounted for 31.3 per cent of total.

Home decorations, gifts and machinery buyers accounted for 28.28 per cent, 26.82 per cent, and 26.37 per cent, respectively.

110 out of 250 of the world's top retailers joined the fair, with nine out of the top 10 in attendance, including Wal-Mart, Costco, Kroger, Schwartz, Carrefour, Home Depot, Wallgreens, Amazon and Aldi.

Buyers participating Multinationals Sourcing Service included US Harbor Freight, Staples, Lifetime Brands, Kesko Group, Auchan and Lock & Lock Co., Ltd., it stated. – TradeArabia News Service

Tags: | export | turnover | Canton Fair |

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