China overtook Germany in the first quarter to become the second
largest exporter of automotive spare parts to the United States,
Shanghai Securities News reported Friday.
China exported US$1.936 billion worth of auto parts to the US in
the first quarter this year, pipping Germany which notched up
US$1.934 billion, according to statistics from the US Commerce
Department cited by the newspaper.
Japan is way out in front with a substantially higher US$3.57
During the same period last year, China exported US$1.52 billion
worth of auto parts to the US, less than the 1.73 billion
attributed to Germany.
Statistics from the China Association of Automobile
Manufacturers (CAAM) show that China's exports of auto parts grew
at 54 percent annually from 2000 to 2005, far outpacing the 29.5
percent rise in imports.
In the first three months this year, China exported a total of
US$2.57 billion worth of auto parts, a surge of 36 percent year on
year, and imports stood at US$2.42 billion, up 27 percent,
according to China's customs figures.
However, analysts said China's higher exports were not a
demonstration of stronger competitiveness, adding that margins on
German-made auto parts far exceed those from China.
(Xinhua News Agency June 8, 2007)