Guangdong's Trade with ASEAN Countries Rises SharplySouth China's Guangdong Province expanded its trade with ASEAN countries drastically in the first half of this year.Guangdong's import-export trade with ASEAN countries reached 6. 23 billion US dollars, up 44.7 percent over the same period of last year and accounting for 14.5 percent of its total import and export trade value. Its exports to ASEAN countries rose 52.9 percent to 2.13 billion US dollars; its imports from the countries were 4.1 billion U.S. dollars, increasing 40.8 percent. Of the exports, the value of electrical and machinery products account for 67 percent, rising 22.6 percent over the figure in the same period of 1997. According to a government official, Guangdong Province had a trade deficit of 1.97 billion U.S. dollars with ASEAN countries and the deficit tends to rise. He said that to reduce the deficit, the province has to further open up the ASEAN market and bring its own advantage into full play. |
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