Sun, May 06, 2012
Business > Economy

Canton fair closes with drop in export transactions

2012-05-05 15:47:09 GMT2012-05-05 23:47:09(Beijing Time)  Xinhua English

GUANGZHOU, May 5 (Xinhua) -- The spring session of the biannual Canton Fair, or the 111th China Import and Export Fair, closed on Saturday, with export transactions decreased for the first time since 2009.

The value of export deals dropped by 2.3 percent year-on-year to 36.03 billion U.S. dollars, or down 4.8 percent than the figure at the autumn session of the fair, said Liu Jianjun, spokesman with the fair.

This is the first volume decrease since the spring of 2009 as economic crisis hit the world from 2008, according to Liu.

Debt crisis from European Union countries and tough job market in the United States were among the factors that have caused the decrease, he said.

"Although we have seen sharp export deal increase in new markets, such as in Brazil, Russia, India, South Africa and other African countries, it cannot make up for the huge shortfall from European and American markets," said Liu.

The purchasers attending the fair reached 210,000, setting a new record since the fair's debut in 1957.

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