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Export of high energy-consuming products down 16.2% in 2008

By Yu Hongyan (chinadaily.com.cn)
Updated: 2009-02-11 17:14

China exported 103 million tons of high energy-consuming products in 2008, a decline of 16.2 percent year-on-year, while the total value of these products rose 31.4 percent to $89.8 billion, China Customs said on Wednesday.

The products, which include steel, titanium alloy, billet, pig iron, aluminum, copper, cement and fertilizer, all experienced a decline in exports except aluminum products, according to China Customs.

Rising costs in materials, labor and transportation pushed energy-consuming products' prices up all year until October 2008, when prices declined in the following two months due to lessened demand.

South Korea topped all other countries by importing 16.53 million tons, or 16.1 percent of China's high energy-consuming products, up 1.6 percent year-on-year.

Exports to other major importers like ASEAN, EU, and the US all dropped more than 20 percent in the same period. However, exports to Angola surged 95.9 percent to 2.53 million tons.