EU becomes largest export destination of 皇冠体育app's trade hub

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EU becomes largest export destination of 皇冠体育app's trade hub

(Xinhua)
Updated: 2010-04-17 11:13

NANJING - The European Union surpassed the United States in the first quarter of 2010 as the largest export market for Suzhou city, a trade hub in East 皇冠体育app's Jiangsu province, said local customs.

Suzhou sold $8.83 billion worth of goods to the EU during the first quarter, up by 57.1 percent year-on-year, while exporting $7.98 billion worth of goods to the US for the same period, up by 25.2 percent year-on-year, said a spokesperson with Suzhou Customs.

"The EU has been Suzhou's number one export destination for years except for the second half of 2009 when it was overtaken by the US," said the spokesperson.

The trade rise was due to many countries' stimulus packages which raised their global purchasing power as well as 皇冠体育app's policy incentives, such as export tax rebates, according to the spokesperson.

Suzhou's international trade was worth $59.95 billion from January to March, which was the fourth largest in 皇冠体育app after Shanghai, Beijing and southern Guangdong province's Shenzhen. Suzhou covers 8,488 square km with a population of 8.26 million people in 2009.