Foreign trade


In 2000, the import and export value of Fujian Province totalled US$21.224 billion, a growth of 20.28 per cent over US$17.645 billion in 1999.

Total export value was US$12.909 billion, a growth of 24.41 per cent against US$10.376 billion in 1999 and equalling 27.26 per cent of the province's GDP of RMB392 billion (US$47.354 billion) and 5.18 per cent of the nation's total export value. Fujian was the sixth largest exporting province in China.

Export of primary products and manufactured products accounted for US$1.367 billion and US$11.541 billion respectively, or 10.59 per cent and 89.40 per cent in the total export. Hong Kong, which used to be the province's largest export market, with a share of nearly 50 per cent in 1995, became the third largest behind the USA and Japan (see Table 7.13.2). Over the previous six years , the province considerably reduced its dependence on the top five export markets, from nearly 95 per cent in 1995 to 61.67 per cent in 2000.

Table 7.13.2: Top five export destinations: 1995 and 2000

Country/region

Export value (US$ million)

% of export total

1995

Hong Kong

4,084

49.49

Japan

1,743

21.12

USA

1,131

13.70

Taiwan Province

650

7.89

Germany

228

2.76

Total

7,836

94.96

2000

USA

3,189

24.70

Japan

2,356

18.25

Hong Kong

1,509

11.69

Germany

503

3.90

Taiwan Province

404

3.13

Total

7,961

61.67

Import value totalled US$8.315 billion, up by 14.39 per cent on US$7.269 billion in 1999. This money was mainly spent on manufactured products. The split between the import of primary products and manufactured products was US$1.021 billion and US$7.293 billion respectively, accounting for 12.28 per cent and 87.71 per cent of total import value.

As in the case of export, Hong Kong moved from its position as the leading supplier of the province's imports down to the fifth (see Table 7.13.3). Taiwan, partly because of its geographical proximity to Fujian and also because of the many 'family ties' between the two provinces , took the first place in 2000. However, the province's dependence on one single source of import was not as high as it was in 1995. Taiwan's position as the leading supplier of the province's import in 2000 was far less significant than Hong Kong's had been; the latter's share in the province's import in 1995 was as high as 59.19 per cent.

Table 7.13.3: Top five import markets, Fujian Province, 1995 and 2000

Country/region

Import value (US$ million)

% of import total

1995

Hong Kong

2,989

59.19

Taiwan Province

836

16.55

Japan

493

9.76

USA

186

3.68

Malaysia

168

3.33

Total

4,672

92.51

2000

Taiwan Province

2,421

29.12

Japan

1,315

15.82

Republic of Korea

1,060

12.75

USA

799

9.61

Hong Kong

283

3.40

Total

5,878

70.7




Doing Business with China
Doing Business with China
ISBN: 1905050089
EAN: 2147483647
Year: 2003
Pages: 648
Authors: Lord Brittan

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