Firms Face Dropping Exports to Europe: Survey

BEIJING, Nov. 30 -- A majority of Chinese exporters saw shipments to Europe decline in the past few months as the eurozone sovereign debt crisis weighed on external demand, according to newly released survey data.

About two thirds of nearly 600 companies surveyed from Nov 4 to Nov 7 said their exports to Europe had dropped in the last few months, with 35 percent reporting significant falls, said Global Sources, a trade information provider, in a statement.

It said 22 percent of the firms reported exports remained stable and 12 percent reported growth in shipments.

Nearly 40 percent of the companies surveyed expected further decreases in exports to Europe in 2012, while 29 percent anticipated more shipments, said the statement.

To counter the impact, Chinese exporters said they would accelerate rolling out new products, cut costs and invest more in research and development to improve product quality, according to the survey.

Meanwhile, 42 percent of enterprises planned to strengthen their presence in emerging markets including Latin America, the Middle East, Africa, East Europe and the Asia Pacific.

China's exports in October fell 7.2 percent month-on-month to $157.49 billion but still rose 15.9 percent year-on-year, customs figures show.

The survey was conducted among 581 suppliers of home products, electronics, hardware, gifts, garments and textiles, solar products and other products in China's economic hubs of Guangdong, Zhejiang, Jiangsu and Shanghai.