As China’s fast-growing economy slowed down since July, Missouri’s export to its third largest trade partner suffered a 23 percent decrease in August.
Missouri’s growth in total export to China sunk from last year’s 17.6 percent to 3.6 percent in the first eight months of this year. The deal busters turned out to be big trade contributors including recyclable materials, non-electrical machinery and transportation equipment. The sales in each sector declined more than $20 million, according to Missouri Business Alert’s analysis on the data supplied by Missouri Economic Research and Information Center.
The silver lining among important export products with China was in primary metal manufacturing, where the eight-month export quadrupled the number of the same period in 2011. Sales in apparel and accessories surged to $182,000 from less than seven thousand dollars in the first eight months of 2011, the biggest year-on-year growth among all sectors.
Missouri Department of Economic Development did not respond to further questions on the export data supplied by its research division MERIC. The Department’s website listed schedules of exhibitions and fairs all the way up to December 2013. More than one third of the events are going to be held in China.