US enjoys clean energy trade surplus with China
Washington: 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 USD 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 USD 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 USD 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 USD 1.1 billion of these products flowed in 2011, with the US holding a net trade surplus of USD 571 million in the sector.