May. 7, 2012 (China Knowledge) - Export transactions in the 111th China
Import and Export Fair, widely known as the Canton Fair, were US$36.03 billion, down 2.3% year on year or 4.8% from the previous session, due to weak external demand, sources reported.
The figure reflected the first decline in export transactions since the spring session of 2009, said Liu Jianjun, spokesman with the fair.
Export orders from the E.U. fell 5.6% as a result of the ongoing debt crisis and those from the U.S dropped 8.1% amid a tough job market.
However, export deals with emerging countries such as India, Brazil, Russia and South Africa rose 4.1% and those from African countries grew 13.5%.
The number of buyers attending the Canton Fair, the most well-known trade fair in China
, increased 0.17% from the previous session to a record 210,831.
Liu said that about 86.3% of the total export transactions were medium- and short-term deals that will be completed within six months as buyers are very cautious in placing long-term orders and exporters have great concerns over rising costs of raw materials and exchange fluctuation.