US enjoys clean energy trade surplus with China
Washington, March 7 : US companies held USD 1.6 billion dollars of trade surplus in clean energy trade with China in 2011, said a report released by the Pew Charitable Trust.
The report, Advantage America: The US-China Clean Energy Trade Relationship in 2011, found that the US and China traded more than $8.5 billion worth of clean energy goods and services in 2011, the latest year for which data are available, reported Xinhua.
The report prepared by the independent non-profit organization concluded that America's clean energy trade strength is derived from innovation and entrepreneurship. While China's clean energy industry has an advantage in large-scale manufacturing and high- volume assembly of certain clean energy products.
However, tensions have been highlighted in recent years by fiercely competitive market conditions affecting companies in both countries, as well as several high-profile trade cases.
In solar energy, the largest component of clean energy trade for both countries, firms traded more than $6.5 billion of products and services in 2011. Chinese firms sell large quantities of finished solar cells and modules to the US, from whom China then buy high value-added goods and services, such as polysilicon and wafers, as well as high-tech materials and equipment needed in solar manufacturing. On a net basis, the US enjoyed a $913 million surplus in the solar sector.
The two countries also traded energy smart technologies including smart meters, light emitting diodes (LEDs), advanced lithium-ion batteries, and electric vehicles. More than $1.1 billion of these products flowed in 2011, with the US holding a net trade surplus of $571 million in the sector.