Doing Business with China

In 2000, the total import and export value of the region came to US$439.82 million, a rise of 39 per cent over US$316.49 million in 1999.

Total export value was US$326.95 million, an increase of 32.6 per cent over US$246.58 million in 1999, equivalent to 10.2 per cent of the region's GDP of RMB26.5 billion (US$3.2 billion) and 0.13 per cent of the total export value for the whole country.

Export of primary and manufactured products amounted to US$28.48 million and US$298.89 million respectively, accounting for 8.71 per cent and 91.4 per cent of the total export value.

The United States became the biggest buyer of the region's exports in 2000, while Japan ranked the second (see Table 7.30.2). These two markets took over 40 per cent of the region's total exports.

The region recorded an increase of 65.28 per cent in its import value from US$69.91 million in 1999 to US$115.55 million in 2000. Import of primary products took a share of 60.29 per cent of the import total, or US$69.67 million. Manufactured products amounted to US$45.89 million, accounting for 39.71 per cent of the total import value.

More than 42 per cent of the imports in value terms came from Australia and the USA. The top five sources of the region's imports (see Table 7.30.3) accounted for over 60 per cent of the total import value.