Trade volume at the Yiwu International Commodities Fair, one of China's major foreign trade platforms, dropped by 4.9 percent year-on-year.

The six-day fair concluded on Saturday in Yiwu County in eastern Zhejiang Province, with total trade volume reaching 10.4 billion yuan (US$1.5 billion), 4.9 percent lower than that of last year. The foreign trade volume dropped by 3.2 percent to reach US$949 million.

More than 105,000 traders attended the fair, among whom were 16,107 overseas buyers, 5.3 percent lower than last year.

The best seller included appliances, stationeries, electronics and hardware, according to statistics from the fair organizers.

Analysts said while consumption abilities of the Europeans and the Americans dropped, China-made petty commodities which were cheap and had good qualities, would be more competitive in the global market.

The fair has been held for 14 successive years. Yiwu, 300 kilometers away from Shanghai, has the world's largest wholesale market for small commodities.

(Xinhua News Agency October 27, 2008)