China Surpasses Germany in Auto Part Exports to US - ResearchInChina

Date:2007-08-01liaoyan  Text Size:

China has surpassed Germany to become the second largest auto parts exporter to the US, according to investment service group Score One Inc.

In a statement, the company said China's auto part exports to the US rose 27 pct year-on-year in the first quarter to 1.936 bln usd, compared with Germany's 1.934 bln usd.

Worldwide, China exported 6.123 bln usd of auto parts in the first quarter, up 32.4 pct from a year earlier, Score One said.

'China is moving up from basic goods like textiles, toys and shoes towards higher-value industrial goods that pay better wages and achieve higher operating margins,' Score One's chief executive Hoi-ho Kiu said.

'Soaring output at auto assembly plants in China is generating enormous demand for auto parts and creating the large economies of scale productions which previously (were) possible only in North America, Europe and Japan,' she added.

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