Chinese exports of electronics and IT hardware climbed at a faster pace during the first nine months of this year, China’s Ministry of Information Industries said on Friday.
Chinese exports of electronics and IT hardware climbed at a faster pace during the first nine months of this year, China’s Ministry of Information Industries (MII) said on Friday.
Chinese electronics exports between January and September were valued at US$253.8 billion, a 38% increase over the same period last year. Exports of electronics outpaced exports from other industries, representing 37% of China’s total foreign trade and accounting for 48% of the export growth recorded so far this year, MII said.
Imports of electronics also did well, rising 34% during the first nine months, to $206.4 billion. The difference between the value of exports and imports left China with a trade surplus in electronics of $47.4 billion, the ministry said.
The increase in exports comes as Chinese factories churn out a range of products, including computers, phones, MP3 players, LCD televisions and other products for markets around the world.
The growing importance of China as an electronics manufacturing base is underscored by the recent announcement that Hon Hai Precision Industry Co., the world’s largest contract electronics makers, plans to significantly increase its investment in China.
On Nov. 1, Hon Hai said it would invest more than $1 billion to expand its Chinese manufacturing base with the construction of several factories near Huai’an, in China’s eastern Jiangsu Province.
