The Ministry of Knowledge Economy has released its parts and materials industry trade figures for the first half of the year. The national trade balance for the first six months of 2010 hit a record year-on-year surplus, standing at $37.2 billion. Despite unfavorable conditions, such as financial difficulties in Europe and high oil prices, both the national trade surplus and parts and materials exports surpassed pre-crisis levels.
Exports for the parts and materials sector jumped 47.9 percent, reaching a record high of $109.5 billion. Exports of materials climbed 39.3 percent to $35.5 billion, while outbound shipments of parts rose 52.4 percent to $74 billion. All export items enjoyed double-digit growth.
Year-on-Year Export Growth Rates for Major Export Items
|
|
|
First Half 2010 |
Growth Rate |
|
Materials |
Textiles |
$2.04 billion |
21.1% |
|
Compounds and Chemicals |
$18.03 billion |
40.7% |
|
|
Rubber and Plastic Materials |
$3.43 billion |
42.6% |
|
|
Nonmetallic Minerals |
$11.57 billion |
38.8% |
|
|
Basic Metals |
$9.52 billion |
14.2% |
|
|
Parts |
Fabricated Metals |
$1.93 billion |
17.9% |
|
General Machinery Parts |
$8.72 billion |
24.1% |
|
|
Computer and Office Machine Parts |
$2.13 billion |
26.3% |
|
|
Electrical Machine Parts |
$7.43 billion |
37.2% |
|
|
Electronic Components |
$41.36 billion |
60.1% |
|
|
Precision Machine Parts |
$2.43 billion |
40.8% |
|
|
Transportation Machine Parts |
$10 billion |
90.8% |
Meanwhile, imports of parts and materials went up 35.3 percent to $72.4 billion. Rubber and plastic materials (66.9 percent), and transportation machine parts (78.3 percent) saw particularly strong growth.
SOURCE: MKE
