| China becomes 2nd largest exporter of auto parts to U.S. |
BEIJING, June 8 (Xinhua) -- 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 1.936 billion U.S. dollars worth of auto parts to the U.S. in the first quarter this year, pipping Germany which notched up 1.934 billion U.S. dollars, according to statistics from the U.S. Commerce Department cited by the newspaper.
Japan is way out in front with a substantially higher 3.57 billion U.S. dollars.
During the same period last year, China exported 1.52 billion U.S. dollars worth of auto parts to the U.S., 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 2.57 billion U.S. dollars worth of auto parts, a surge of 36 percent year on year, and imports stood at 2.42 billion U.S. dollars, up 27 percent, according to China's customs figures.
However, analysts here 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.
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