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China remains largest trading partner in Los Angeles Customs District
Source: xinhua Date: 2009-05-15
China remained the largest trading partner in the Los Angeles Customs District (LACD) in 2008, according to a report released Wednesday by the Los Angeles County Economic Development Corporation.
Total two-way trade between China and the Los Angeles Customs District was valued at 186.6 billion U.S. dollars, the report said.
Total Chinese imports arriving in the district was 157.9 billion dollars, while total U.S. exports to China through the district was 28.6 billion dollars.
The import-to-export ratio of 5.5 was by far the highest among the Los Angeles Customs District's top trading partners, though below the 2007 ratio of 6.4, the report said.
The value of Chinese imports arriving in the LACD decreased by 0.4 percent in 2008, with furniture, bedding and lamps experiencing the largest decline with an 11 percent drop, while total exports to China increased 15.7 percent, the report said.
The list of major imports from China continue to be dominated by consumer electronics, particularly flat-panel TVs and non-durable consumer goods.
Electronic components saw a 4.7 percent rise compared with 2007,one of the few categories that actually recorded any improvement.
Some smaller products also had positive gains in 2008. Footwear and parts gained nearly 2 percent over 2007, and iron and steel products increased by nearly 5 percent.
The most significant turnaround was in apparel and accessories, including woven and knitted items, which declined by nearly 5 percent combined after rising by a combined 17 percent in 2007.
It said the LACD's exports to China continued to be driven by China's huge appetite for raw materials and components as inputs to its growing manufacturing sector.
The largest LACD export product groups, which include electronic parts, plastic polymers and cotton fabric, all confirm this trend, the report said.
Chinese demand for iron, steel and copper scrap exports fell in2008 as the industrial sector slowed down. On the other hand, there was a significant jump in demand for aluminum products and scrap to meet ongoing requirements in some industrial sectors, the report said.
Japan was the No. 2 partner with a total two-way trade value of59.3 billion dollars, followed by South Korea with a two-way trade value of 22.2 billion dollars.
The Los Angeles Customs District retained its No. 1 ranking in the United States in trade value in 2008 with an increase of 2.5 percent to 356.1 billion dollars. The No. 2 district, New York, saw a more robust gain of 9.3 percent to 353.6 billion dollars.
Total two-way trade between China and the Los Angeles Customs District was valued at 186.6 billion U.S. dollars, the report said.
Total Chinese imports arriving in the district was 157.9 billion dollars, while total U.S. exports to China through the district was 28.6 billion dollars.
The import-to-export ratio of 5.5 was by far the highest among the Los Angeles Customs District's top trading partners, though below the 2007 ratio of 6.4, the report said.
The value of Chinese imports arriving in the LACD decreased by 0.4 percent in 2008, with furniture, bedding and lamps experiencing the largest decline with an 11 percent drop, while total exports to China increased 15.7 percent, the report said.
The list of major imports from China continue to be dominated by consumer electronics, particularly flat-panel TVs and non-durable consumer goods.
Electronic components saw a 4.7 percent rise compared with 2007,one of the few categories that actually recorded any improvement.
Some smaller products also had positive gains in 2008. Footwear and parts gained nearly 2 percent over 2007, and iron and steel products increased by nearly 5 percent.
The most significant turnaround was in apparel and accessories, including woven and knitted items, which declined by nearly 5 percent combined after rising by a combined 17 percent in 2007.
It said the LACD's exports to China continued to be driven by China's huge appetite for raw materials and components as inputs to its growing manufacturing sector.
The largest LACD export product groups, which include electronic parts, plastic polymers and cotton fabric, all confirm this trend, the report said.
Chinese demand for iron, steel and copper scrap exports fell in2008 as the industrial sector slowed down. On the other hand, there was a significant jump in demand for aluminum products and scrap to meet ongoing requirements in some industrial sectors, the report said.
Japan was the No. 2 partner with a total two-way trade value of59.3 billion dollars, followed by South Korea with a two-way trade value of 22.2 billion dollars.
The Los Angeles Customs District retained its No. 1 ranking in the United States in trade value in 2008 with an increase of 2.5 percent to 356.1 billion dollars. The No. 2 district, New York, saw a more robust gain of 9.3 percent to 353.6 billion dollars.
