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As a major province of Chinese furniture production and export, Guangdong has experienced tremendous growth in exports to emerging markets such as ASEAN in the face of the impact of the traditional financial crisis market. According to statistics released by Guangzhou Customs on the 13th, Guangdong furniture exports declined slightly in 2009, but it has increased sharply by a factor of four to ASEAN.
In 2009, Guangdong’s cumulative exports of furniture and its parts (hereinafter referred to as “furnitureâ€) were US$9.96 billion, a decrease of 2.9% over the same period of the previous year. Among them, exports to ASEAN amounted to 1.15 billion U.S. dollars, a sharp increase of 1.4 times; exports to the Middle East reached 820 million U.S. dollars, an increase of 14 percent.
It is understood that since the furniture export tax rebate increased to 15% in June 2009, the scale of Guangdong furniture exports has steadily expanded, and the year-on-year growth rate has continued to rise. Exports continued to rebound strongly in the month of December, up 28% year-on-year, and hit a new record for a single month.
Customs analysis said that the scale of Guangdong's furniture exports expanded steadily in 2009. The main reason was that China's furniture export tax rebate rate increased in June last year, which had a significant effect on stimulating exports. At the same time, external demand gradually recovered. In the United States, the largest furniture export market, GDP has ended a four-quarter decline, indicating that the US economy is gradually out of recession. ASEAN and China signed a free trade agreement, which stimulated the substantial growth of ASEAN furniture exports and became the main force driving the growth of furniture export trade.
The data shows that the United States and the European Union are the main export markets for Guangdong furniture. In 2009, Guangdong’s exports of furniture to the United States and the European Union were 3.38 billion U.S. dollars and 21.7 billion U.S. dollars, down 15 percent and 8% respectively, accounting for the total value of Guangdong’s furniture exports during the same period. Five out of six.
The Customs reminded that the technical barriers frequently introduced by countries such as Europe and the United States are increasingly restricting the export of Guangdong furniture, which has created a huge obstacle to the recovery of Guangdong furniture exports. Furniture companies should be guided and encouraged to optimize the structure of export products and explore emerging markets, establish their own overseas sales channels, reduce their reliance on European and American markets, and increase the design and technological innovation of furniture products.
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