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Jiangsu's export growth slows to 2.8% in Q1

May. 2, 2012 (China Knowledge) - East China's Jiangsu Province saw its exports rise 2.8% year on year to US$70.03 billion in the first quarter of this year, slowing from a 21.5% increase in the same period of last year, according to official statistics.

The province's imports fell 3% year on year to US$51.48 billion in the first three months, taking its foreign trade to a total of US$121.51 billion in the period, reflecting a growth of 0.3% year on year.

The province's general exports grew 8.3% from the same period of 2011, while the export value under processing trade fell 1.3% year on year.

The exports of foreign-funded enterprises dropped 0.2% year on year to US$47.93 billion, accounting for 68.4% of the province's total exports.

Jiangsu exported US$47.52 billion of mechanical and electronics products in the first quarter, 3% more than in the corresponding period of last year, and exported US$28.25 billion of high-tech products, representing a decline of 4.9% year on year.

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